The rupee on Tuesday recovered some of the lost ground after taking a battering overnight, advancing 6 paise to 64.50 against the US dollar amid mild selling of the American currency by exporters. Weak dollar sentiment overseas largely supported the recovery movement even as heightened geopolitical worries continue to dominate at the global level.
A smart relief rally in local equities also kept forex market tone buoyant. The rupee had tumbled by a whopping 28 paise on Monday. Brushing aside global volatility, domestic bourses witnessed a splendid rally, breaking a three-day string of declines on the back of value buying in key blue-chip stocks.
Most Asian stocks ended lower. Meanwhile, foreign investors sold shares worth net Rs 716.19 crore on Monday, as per the provisional figures. The greenback fell back in Asian trading, as concerns over tensions with North Korea and Syria largely weighed on US Treasury yields amid fading Fed rate hike fears.