After hitting a record low of Rs 56.38 against the US dollar during the day, the rupee recovered 14 paise from Wednesday's closing level of 56 in the late afternoon trade.
It strengthened to trade at 55.80 against the American currency on the Interbank Foreign Exchange market in pre-close trade on Thursday on selling of the dollar by banks and exporters.
Forex dealers said that besides the selling of dollars by some state-owned banks and exporters, rebound in the stock market, and steps taken by the Reserve Bank, helped the rupee recover from an all-time low.
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