Rupee recovers by 10 paise

Mumbai: The Indian Rupee recovered by ten paise to Rs 45.15 a dollar in the morning trade on fresh selling of dollars by banks and exporters in view of a weak American currency in overseas market.

At the Interbank Foreign Exchange (Forex) market, the local currency opened higher at 45.19/20 per dollar as against the yesterday`s closing level of 45.25/26 per dollar and moved up further to 45.15 before quoting at 45.21/22 per dollar at at 1030 hours.

It hovered in the range of Rs 45.15-45.23 a dollar in the morning deals.

In New York, the Japanese Yen gained against major rivals yesterday as fears of a deepening nuclear crisis after last week`s earthquake and tsunami sent Tokyo stock market and global equities tumbling.