Australia shares gain on weaker currency, but end the week 1.2 pct lower

(Updates to close)

SYDNEY, Nov 22 (Reuters) - Australian shares gained 0.9 percent on Friday, snapping a 4-session losing streak on the back of a sharp fall in the Australian dollar after the head of the country's central bank said he was open to intervening to weaken the currency.

Upbeat U.S. economic data and a strong overnight lead from Wall Street also supported the local bourse.

The S&P/ASX (Berlin: AUX.BE - news) 200 index rose 47.6 points to 5,335.9. The benchmark fell 0.4 percent on Thursday and ended the week 1.2 percent lower, its biggest weekly drop in seven weeks.

New Zealand's benchmark NZX 50 index closed 0.01 percent lower at 4,818.0. (Reporting by Maggie Lu Yueyang; Editing by Anupama Dwivedi)