Snapping its three-day losing momentum, the rupee recovered by 45 paise to close at 67.78 against the dollar on fresh selling of the American currency by banks and exporters in view of sharp recovery in equities.
Banks and exporters preferred to reduce their dollar position on hopes of resumption of foreign capital inflows. The domestic unit resumed higher at 68.10 as against Thursday’s 68.23 at the forex market and moved up further to 68.12 before ending at 67.78, a gain 45 paise or 0.66 per cent.
The rupee had dropped by 60 paise or 0.89 per cent in previous three trading days.