The rupee recovered in late trades as equities turned positive on Monday.
The rupee resumed sharply lower at 63.62 per dollar as against last weekend’s level of 63.44 at the Interbank Foreign Exchange market.
It moved in a range of 63.63 and 63.44 per dollar in the day's deals before quoting at 63.44 at 4.40 pm.
The domestic currency had gained around 40 paise during the last four sessions to end at two—month high of 63.44 against the greenback last Friday.
Oil fell in Asia early today as investors digested the implications of Greece rejecting tough austerity demands from creditors which could send the debt—strapped nation crashing out of the Eurozone, analysts said.
The Euro fell today in early Asian trade, while the safe—haven yen rallied after Greeks voted to reject terms of a rescue package, deepening the country’s financial crisis that could splinter Europe if creditors refuse further aid.