The rupee on Friday regains 7 paise to end at 68.23 per dollar on fresh selling of the American currency by banks and exporters in view of mild recovery in domestic equities.
The weaker dollar overseas also boosted the rupee value, a forex dealer said.
The rupee resumed lower at 68.40 per dollar as against Thursday’s closing of 68.30 at the Interbank Foreign Exchange market and dropped further to 68.47 on initial demand for the U.S. currency from importers in view of sustained foreign capital outflows.
However, it recovered afterwards to 68.14 on fag-end selling of dollars by banks and exporters due to weakness in greenback in global markets before ending at 68.23, showing a gain of 7 paise or 0.10 per cent.
The rupee had closed at 68.30 per dollar on Thursday.
The domestic currency hovered in a range of 68.14 and 68.47 per dollar during the day.
The dollar index was up 0.13 per cent against a basket of six currencies in the late Asian trade.
In the overseas market, the yen weakened moderately against its rivals during Asia trade on Friday, as Japanese authorities’ talking failed to give a new direction to the perceived safety of the Japanese currency.
However, the U.S. dollar fell to a 15-month low against the yen on Thursday, on track for its worst week against the Japanese currency since 2008, as fears of a global economic slowdown and concerns about stress in the banking system increased demand for safe havens.
Meanwhile, the benchmark Sensex on Friday recovered marginally by 34.29 points or 0.15 per cent.
