Rupee recovers 9 paise against US dollar, markets open in green 

The worry over sinking rupee subsided with the national currency registering a slight recovery of 9 paise to 71.66 against the US dollar on Thursday in early trade at.

Meanwhile, Indian markets opened in green with the Sensitive Index (Sensex) of the BSE opening higher at 38.161.85 points, it had closed at 38,018.31 points on Wednesday.

According to reports, Sensex was at 38,096 points, up by 77.69 points, or 0.20 per cent just after minutes into trading on Thursday.

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Nifty, on the other hand, which was quoting at 11,499.60 points, was up by 22.65 points or 0.20 per cent.

Meanwhile, Finance Minister Arun Jaitley on Wednesday cited "global reasons" for tumbling rupee against the dollar and for mounting fuel prices. He stated that the world's fastest-growing economy should not worry and panic over sinking rupee.

Jaitley said there were no domestic reasons attributable to the fall in rupee. He added that dollar had strengthened against almost every currency.

"The Rupee has either consistently strengthened or remained in a rage, not weakened. Most of the other currencies of the world, compared to what it was 4-5 years ago, Rupee is better off,’ Jaitley told media in New Delhi on Tuesday.

Forex dealers on Thursday noted fall in crude prices in the global market and weakness in the dollar against other currencies overseas amid US-China trade conflict, helped the domestic currency rebound.

They said a higher opening in the equity market also supported the recovery in the rupee.

The rupee's unabated fall continued for the sixth straight session on Wednesday when it touched another closing low of 71.75, down 17 paise against the US currency.

(With inputs from agencies)