Mumbai: The Indian currency has recovered its early losses as exporters sell the dollar, as the U.S. currency remains under stress from projections of another Federal Reserve interest rate cut next month.

In early trading (11:45 a.m.), the partially convertible rupee stood at 39.32/33 per dollar, hiking back from an early low of 39.39.

Market traders remain watchful regarding increased RBI involvement after the ceiling on market stabilisation scheme (MSS) bonds was brought up after market closure on Wednesday.