Mumbai: The rupee today broke its two-day losing string and recovered by 19 paise to settle at 49.82/83 against the U.S currency following smart rebound in local stocks and fresh dollar selling by exporters. However, firm dollar overseas amid capital outflows restricted the rupee rise, dealers said. At the Interbank Foreign Exchange (Forex) market, the local currency opened strong at 49.85/86 a dollar from last Friday's close of 50.01/02. It later moved in a range of 49.60 and 50.01 before concluding at 49.82/83, showing a rise of 0.37 percent. In straight last two sessions, the rupee had dipped by a whopping 86 paise or 1.75 percent. It had dropped to a 2-1/2-year low of 50.32 on last Friday. The BSE benchmark Sensex, which was up by almost 320 points at initial stages, pared its gains, still ending higher by 153.64 points or 0.92 percent. "Rupee traded volatile and also followed the movements in the Euro for direction. The upcoming meeting in the Euro zone on Wednesday would prove to be a crucial day for any further direction in asset classes," Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said. "The trading range for the $ /INR will be 49.70 to 50.00," he added. .