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Snapping its two-day losing streak against the American currency, the rupee on Wednesday recovered by 11 paise to close at 66.56 on fag-end selling of dollars by banks and exporters on the back of lower greenback overseas and good foreign capital inflows.
The rupee resumed lower at 66.79 per dollar against Tuesday's closing level of 66.67 at the Interbank Foreign Exchange (Forex) Market and dropped further to 66.84 on heavy dollar demand on concerns that future equity inflows into India would be hit in the aftermath of amendments to the bilateral India-Mauritius tax treaty.
However, it washed out initial losses on the back of partial recovery in the equity market to close at 66.56 a dollar.
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