The rupee recovered from its record low rising up by 18 paise to 68.61 against the US dollar in early trade on Friday on fresh selling of the American currency by banks and exporters.

Strengthening of the dollar by nearly six percent in the current quarter has slowed emerging markets like that of India substantially. International media reports suggest that the US economy has, however, slowed down from weak consumer spending in nearly five years but is regaining momentum.

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Global growth outlook has also weakened in the recent weeks said the European Central Bank amid increased protectionism and trade wars especially between the US and its trade partners.

The Indian rupee had yesterday breached the 69-mark after a rise in crude oil price, a stronger dollar, inflation and fiscal slippage factors but covered lost ground to finally close at 68.79 with a fall of 18 paise against the US dollar.

Meanwhile, the BSE benchmark Sensex rebounded by 142.86 points, or 0.40 percent, to 35,180.50 in early trade today.