The Indian rupee rose 22 paise to 71.21 against the USD in the mid-morning trade Wednesday on improved selling of the dollars by exporters and banks. The domestic unit opened higher at 71.19 and spurted further to reach 22 paise higher at 71.21 against USD.
On Tuesday, the rupee had slipped by 16 paise to close at 71.44 v/s dollar amid deep selling in domestic equities.
Foreign portfolio investors sold shares worth a net of Rs 78.53 crore, and domestic institutional investors were sellers to the tune of Rs 84.15 crore Tuesday, as per exchange e data.
Meanwhile, markets turn choppy in the morning trades and are trading near day’s low.