The rupee recovered 41 paise from its all-time closing low to 96.45 against US dollar in early trade on Thursday, after US President Donald Trump indicated that negotiations with Iran were entering the final stages.

Investors are still gauging the geopolitical risk and oil price sensitivity in the background with any flare-up in the Middle East tensions or spikes in crude, forex traders said. At the interbank foreign exchange market, the rupee opened at 96.25 against the US dollar, then touched 96.45 in early trade, up 41 paise from its lifetime low of 96.86 against the US dollar on Wednesday.