The rupee on Monday retreated from one month highs to close down 5 paise at 65.02 against the US currency on fresh bouts of dollar demand from importers and corporates amid forex outflows. The domestic currency had risen to a one-month high of 64.85 at the outset on gains in equity markets. However, the home currency struggled to preserve early strong gains and succumbed to fag-end selling pressure. A follow-through weakness below the key 65-mark further dragged the rupee down to hit a fresh session low of 65.06 in late afternoon deals. It finally settled the day at 65.02, showing amodest loss of 5 paise, or 0.08 per cent.

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