The rupee on Friday closed 25 paise higher at 63.75 against the US dollar, recovering from its 20-month low of 64.26 hit during intra-day trade on Thursday, on fresh selling of the greenback by banks and exporters in view of good foreign capital inflows.
Snapping its three-day losing streak, the rupee resumed lower at 64.02 as against the last closing level of 64 at the Interbank Foreign Exchange on initial dollar demand from banks and importers on the back of higher dollar overseas and fell further to 64.03.
However, it recovered at the fag-end of the day to 63.75, registering a gain of 25 paise or 0.40 per cent.
It had dropped by 30 paise, or 0.47 per cent, in the last three trading sessions.
The dollar index was trading higher by 0.14 per cent against its major global rivals on Friday.
In global markets, the dollar rose against the euro on Thursday, as investors braced for the US official jobs report, among jitters over Greece’s bailout talks and a rebound in Eurozone’s bond markets.
A strong non-farm payrolls reading will provide the Federal Reserve with more ammunition to justify raising interest rates long before other central banks in Japan and the Eurozone.
