The Indian rupee recovered its initial losses and settled 2 paise up at 74.40 against the greenback on Wednesday as exporters’ dollar sales helped offset elevated crude oil prices.
Investors also awaited the minutes of the latest Federal Reserve meeting, forex traders said. At the interbank forex market, the local unit opened on a weak note at 74.53 against the US dollar and witnessed an intra-day high of 74.31 and a low of 74.54. Snapping its three-day losing run, the domestic currency finally ended at 74.40, registering a gain of just 2 paise over its previousclose of 74.42.