Rupee recovers by 35 paise vs dollar

The rupee resumed higher at Rs 52.06/07 per dollar on the Interbank Foreign Exchange, as against last weekend's close of 52.25/26 per dollar, and moved up further to Rs 51.90 per dollar before quoting at Rs 52.08/09 per dollar at 1030 hours.

The domestic currency moved in a range between Rs 51.90 and Rs 52.13 per dollar during morning deals.

Banks and exporters preferred to reduce their dollar positions in view of dollar weakness in Asian markets, a forex dealer said.

In Sydney, the euro was swept higher by a wave of short-covering in thin trade in Asia early today on hopes that European officials will take a major step toward resolving the euro zone debt crisis this week.

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