The rupee snapped its fifth straight week of gaining streak and dropped by 73 paise to settle the week at 49.42/43 against the Greenback on fresh dollar demand from exporters amid some weakness in local stocks at the fag end of the week.

Firm dollar overseas on hopes of further rise in dollar value after the European finance ministers refused to sign off a second aid package for Greece.

However, sustained capital inflows restricted the rupee fall to certain extent.

At the Interbank Foreign Exchange (Forex) market, the local currency resumed the week better at 48.60/61 a dollar from last weekend’s close of 48.69/70.

It later moved in a range of 48.60 and 49.76 before concluding the week at 49.42/43, showing a fall of 1.50 per cent.

In last straight fifth week of gaining string, the rupee had shot up by 8.31 per cent.

The Indian benchmark Sensex closed the week higher by 143.73 points or 0.82 per cent, extending gains for the straight sixth-week.

Foreign Institutional Investors (FIIs) pumped in $294.27 million yesterday, taking a total investment of over $3.977 billion in the current calendar year till February 9, mainly supporting the rupee.

Meanwhile, the Country’s industrial production rose by a slower-than-expected 1.8 per cent in December, 2011, sharply lower than 5.9 per cent growth in November, 2011, which mainly weighed on the market sentiment.

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