Rupee Retreats From 16-Month High; Ends At 65.46 Against Dollar

Mumbai: The rupee on Friday retreated from 16-month high level to close down by 5 paise at 65.46 against the U.S. currency on dollar demand from importers and suspected RBI intervention, ending its four-day dream run.

According to forex dealers, dollar's weakness against other currencies overseas and selling of the U.S. currency by exporters and banks supported the rupee.

On Friday, the rupee had lost 5 paise to end at 65.46 against the U.S. currency on dollar demand from importers and suspected RBI intervention, ending its four-day dream run.

The home unit opened lower at 65.45 compared to previous close of 65.41 at the Interbank Foreign Exchange (FOREX) market. Local currency rose 12 paise or 0.18 percent against dollar to settle at 65.36.

Rupee has witnessed a high of 65.31 and a low of 65.47.

The Dollar index, a measure of the value of the USA dollar relative to a basket of foreign currencies, to settle at 13.00.