MUMBAI: The rupee on Thursday recovered smartly against the U.S. currency after falling by more than 60 paise in the last three days on heavy dollar sales by foreign banks.

In hectic activity at the interbank foreign exchange market, the Indian unit resumed firm at 45.30/32 a dollar from the overnight close of 45.34/35 and shot up further to hit an intra-day high of 44.92, before closing at 44.9350/9450, smartly higher than Wednesday's close.

There was heavy dollar selling in non-deliverable forwards market by foreign banks, a banker said. PTI