The rupee recovered from a near 18-month low by rising 12 paise to 68.30 against the dollar in opening trade on Thursday at the forex market on fresh selling of the US currency by exporters and banks.
The minutes from the US Federal Reserve's meeting on Wednesday appeared to have reassured investors that the central bank will not be too aggressive with raising interest rates, forex dealers said.
Besides selling of the American currency by exporters and banks, weakness in the dollar against some other currencies overseas propped the rupee, they said. Further, a higher opening in the domestic equity market too influenced the rupee uptrend, they added.