Continuing its rising streak for the fifth straight session, the rupee in a volatile trade today ended higher by 4 paise to 63.40 against the US currency following consistent selling of dollar by banks and exporters.A sharp rebound in local equity markets along with robust capital inflows predominantly weighed on the local unit, despite strong dollar overseas.
The rupee resumed sharply lower at 63.62 per dollar against the weekend close of 63.44 at the Interbank Foreign Exchange market, spooked by uncertainties surrounding to Greece crisis and massive selling in equities, and drifted further to hit a fresh intra-day low of 63.65 on initial dollar demand.However, it witnessed a remarkable turnaround on fresh selling of the American currency to close firmly higher at 63.40, showing a gain of 4 paise, or 0.04 per cent.The local currency has strengthened by 44 paise, or 0.69 per cent, over the last five sessions.