Indian forex and money markets are closed on Friday on account of ‘Shiv Jayanti’.
The Indian rupee ended almost flat at 68.46 against the US currency after touching a fresh 30-month low of 68.58 in intra-day trade on Thursday in a volatile trade.
After two straight days of losses, the rupee on Thursday started on a higher note at 68.39 at the Interbank Foreign Exchange in early trade and strengthened to 68.32 during the day on fresh bout of dollar selling by exporters and banks.
However, the home currency later turned highly volatile and surrendered all its early gains following renewed dollar demand from importers and some banks amid fresh capital outflows.
It fell back further in mid-afternoon trade to hit a fresh intra-day low of 68.58 before rebounding smartly to settle the day at 68.46, showing a gain of one paisa.
Suspected RBI intervention as well as dollar unwinding by speculative traders ahead of long weekend too largely supported the local currency, a forex dealer said.