The rupee on Friday staged a mild recovery by gaining 5 paise to close at 64.58 against the US dollar in cautious trade, marked by nervousness ahead of the Goods and Services Tax (GST) rollout.
The rupee opened substantially lower at 64.72 from the overnight closing level of 64.63 at the Interbank Foreign Exchange (Forex) Market on sustained bouts of dollar demand and drifted further sharply to hit a low of 64.84. However, it bounced back towards end-of-day trade and managed to close at the session’s high of 64.58, showing a gain of 0.05 paise.