Wednesday, June 7 2006 12:17 Hrs (IST) - World Time -

Mumbai: The Rupee today (June 7, 2006) recovered initial losses and even appreciated marginally against the US currency in late morning deals on fairly heavy exporter dollar sales and stability on the Indian bourses.

In an active trade at the interbank foreign exchange (Forex) market, the Indian unit opened weak at Rs 45.99/46.01 per dollar and later dipped to 46.05 level before recovering to Rs 45.91/92 a dollar in later morning dealings. It had closed at Rs 45.92/93 per dollar yesterday.

Crediting the Rupee's recovery to heavy dollar selling by exporters in early trade, a leading forex dealer said the Indian currency also derived strength from fairly good FII inflows on June 2 and 5, during which FIIs pumped in about US$ 269 million into equity.

The Rupee is expected to get support at the current level, Forex dealers said.