Mumbai: Rupee recovered by 19 paise to close at 66.82 per dollar on fresh selling of the American currency by banks and exporters on the back of weakness of greenback in the overseas market.
It resumed lower at 67.06 per dollar as against the last weekend's level of 67.01 per dollar at the Interbank Foreign Exchange (Forex) Market in view of initial dollar demand from importers mainly oil refiners and declined further to 67.07 per dollar.
However, it recovered afterwards to 66.7825 per dollar before ending at 66.82 per dollar due to selling of dollars by banks and exporters on hopes of foreign capital inflows into equity market in view of persistent rise in equity market, showing a recovery of 19 paise or 0.28 per cent.
The domestic currnecy hovered in a range of 66.7825 per dollar and 67.07 per dollar during the week. The rupee had dropped by 13 paise or 0.19 per cent against the dollar in the last week.
In the overseas market, the US dollar fell against its major rivals at the fag-end of the week, reversing an earlier advance as the latest commentary from the Federal Reserve indicated a desire to hike rates "fairly soon", but expressed uncertainty about President Donald Trump's fiscal policies.
