The rupee snapped its last 2-week losing streak against the American currency, recovered by 64 paise to close at 67.32 per dollar on fresh selling of green currency in view of strong foreign capital inflows amid sharp rise in equities.
The rupee resumed lower at nearly 4-month low at 68.00 per dollar against the last weekend's level of 67.96 at the Interbank Foreign Exchange (Forex) and fell further to 68.08 per dollar on initial dollar demand from banks and importers on the back of higher dollar on concerns over the UK leaving the European Union. The rupee had last traded at 68.27 per dollar on March 1, 2016.
However, it recovered afterwards to 67.31 per dollar on fag-end selling of dollars by banks and exporters on the back of sharp recovery in equities before ending at 67.32, showing a gain of 64 paise or 0.94 per cent.
The rupee had dropped by 120 paise or 1.80 per cent in previous two weeks. The domestic unit hovered in a range of 68.08 and 67.31 per dollar during the week.
At overseas, the US dollar traded mostly up initially against its major rivals in the Asian trade, while the pound remained under siege, sliding back toward a 31-year low, reflecting the deeply bearish mood of investors after Britain opted to exit the European Union, triggering shockwaves across global markets.
The British pound fell against the US dollar on Friday, still reeling from Bank of England chief Mark Carneys Brexit-inspired warning that the central bank could enact further monetary easing as soon as August.
