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Friday July 3, 03:00 PM
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Rupee strengthens as stocks recover
MUMBAI (Reuters) - The Indian rupee recouped early losses to strengthen on Friday afternoon, tracking a recovery in local equities.
* At 2:35 p.m., the rupee was at 47.93/95 per dollar, off an early low of 48.19, and slightly stronger than Thursday's close of 47.95/96. It had hit 47.74 on Thursday, its highest since June 16.
* Indian shares extended gains to more than 1 percent on Friday afternoon, on short covering ahead of the federal budget on Monday.
(For more news on Reuters Money click http://in.reuters.com/money)