The rupee recovered from early losses, rising 7 paise to 68.60 against the American currency in late morning deals on good bouts of dollar-selling by banks and exporters ahead of key RBI policy meet outcome due tomorrow.

The rupee opened lower to 68.69 from yesterday's closing level of Rs 68.67 at the interbank foreign exchange market here. It, however, recovered to 68.59 on bouts of dollar-selling by banks, to trade at 68.60 at 1030 hrs.