Besides, fresh selling of the US dollar by exporters supported the rupee, but a lower opening in the domestic equity market capped the gains. The rupee had depreciated by 12 paise to close at 63.82 against the American currency yesterday owing to robust dollar demand from importers amid steep losses in local equities after RBI took a cautious stance on the economic recovery and hinted there may not be more cuts in the near term.

Meanwhile, the benchmark BSE Sensex fell 122.60 points, or 0.45 percent, at 27,065.78 in morning trade. The Sensex touched a high of 27276.22 points and a low of 27082.20 points in the trade so far. Selling pressure was seen in fast moving consumer goods (FMCG), banking and power sectors, while good buying was observed in IT sector.

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