Rupee rises 7 paise to 83.06 against US dollar in early trade

The rupee recovered from its all-time low levels and appreciated by 7 paise to 83.06 against the US dollar in early trade on Tuesday, as the American currency retreated from its elevated levels.

Forex traders said the rupee is trading in a narrow range as selling pressure by foreign investors dented sentiments, while the weak tone in US dollar and positive domestic markets cushioned the downside.

At the interbank foreign exchange, the domestic unit opened at 83.07, then touched a high of 83.06 against the American currency, registering a rise of 7 paise over its last close.