Re makes 46 paise rebound as crude prices skid

Mumbai: The rupee rebounded sharply by 46 paise to settle at 89.20 (provisional) against the greenback on Monday, due to US dollar selling by banks and importers amid a dip in global crude oil prices. At the interbank foreign exchange, the rupee opened strong at 89.46 and moved in the range of 89.05 and 89.50 during the day. It eventually settled at 89.20 (provisional), up 46 paise from its previous close. The rupee had plunged 98 paise to close at its lifetime low of 89.66 against the US dollar on Friday, due to a huge demand for the greenback in the domestic forex market amid widespread selling pressure in local and global equities and trade-related uncertainties.