The rupee on Thursday staged an impressive recovery from its five-month low towards the fag-end and closed 5 paise higher at 65.26 against the US dollar. Extending its weakening trend, the rupee opened weaker at 65.33, compared to 65.31 at the inter-bank foreign exchange (forex) market. It later broke down its consolidation phase and touched a fresh session low of 65.45 in mid-morning deals, underpinned by worries over global developments.
However, taking a sudden U-turn, the local unit made a spectacular rebound towards end-of-day trades to conquer the session’s high of 65.24 before finally ending the day at 65.26, showing a gain of 5 paise, or 0.08 per cent.