Rupee opens high at 41.72/74 against USD

Mumbai, May 9: Rupee made a moderate recovery today, opening at 42.72/74, after three days of wild run that saw it depreciating to a one-year low and closing at 41.76 against the US dollar overnight.

''Rupee fell by nearly 80 paise in the last four days, as record oil prices pushed up Dollar demand from refiners, raising concerns of a widening trade deficit,'' dealers said. Later, the partially convertible rupee, fluctuated in a narrow range and quoted at 41.55 and 41.75 against per dollar in mid-session, the weakest since August 20.

UNI