The rupee recovered overnight losses against the dollar on Saturday in process of trading activity, dealers said. The rupee recovered 10 paisas in relation to the dollar for buying and selling at Rs 131.20 and Rs 131.70 respectively, they said. The national currency also gained five paisas in terms of the euro for buying at Rs 148.70, it, however, lost 75 paisas for selling Rs 150.75, they said.
The US economy slowed less than expected in the third quarter as the strongest consumer spending in nearly four years and a surge in inventory investment offset a tariff-related drop in soybean exports. GDP increased at a 3.5 percent annualized rate, the Commerce Department said on Friday in its first estimate.
US President Donald Trump's protectionist policies took 1.8 percent off of the GDP figure, said Greg Anderson, global head of FX strategy at BMO Capital Markets.
The GDP report also showed the Fed's preferred inflation gauge, the personal consumption expenditures (PCE) price index excluding food and energy, missed expectations after it increased 1.6 percent in the third quarter. The core PCE price index rose at a 2.1 percent pace in the April-June period.

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Open Bid       Rs.131.20
Open Offer     Rs.131.70
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