Rupee recovers

The rupee gained 16 paise at 40.27/28 against the greenback despite some demand for the US currency from oil importers. Expectations of capital inflows aided the rupee sentiments, dealers said. The Indian unit opened higher at 40.37/38 per dollar from the last weekend8217;s close of 40.43/44. Dealers said the local currency opened stronger taking cues from positive

Asian indices. There was some dollar buying by importers at the current level but it failed to dampen rupee sentiments, they added.