The Indian rupee has managed to recover slightly from its record low, gaining 5 paise to trade at 84.83 against the US dollar in early Friday trade. This recovery was largely attributed to favourable domestic inflation data, which showed a decline in retail inflation in November, bringing it within the Reserve Bank of India’s target range.

The rupee opened at 84.85 on the interbank foreign exchange market, and inched up to 84.83, marking a 5 paise gain from its previous close. On Thursday, the rupee had ended at an all-time low of 84.88 against the dollar, following a loss of 5 paise. The previous record low was seen on December 9, when the rupee closed at 84.86.