The local currency had gained 10 paise to close at 63.51.
A weak dollar against major world currencies supported the domestic unit.
The Rupee is likely to recover during day trad, say currency watchers.
The rupee on Tuesday tumbled by 32 paise to close at 64.17 on fresh dollar demand from importers.
The rupee firmed up by 15 paise to close at 62.36 per dollar on fresh selling by banks
A fresh demand for the US currency from importers weighed on rupee.
On Tuesday, the rupee had declined marginally by 3 paise to 66.03.
Strong rebound in local equities restricted the rupee's fall.
The rupee had ended 5 paise lower at 67.49 on Monday.
The rupee had lost three paise to hit two-month closing low of 66.80.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
On Wednesday, the rupee ended barely steady at 64.93.
Rupee hits 2-month low against dollar on US rate hike fears.
On Monday, the rupee had lost 14 paise to close at 66.62 against the US dollar.
The rupee had advanced 7 paise to end at 65.51 on Thursday.
The rupee shed 6 paise to hit a fresh 1-month low of 62.31 on Thursday.
This is rupee's lowest since 62.32 on January 9.
The rupee has dropped by 49 paise or 0.75 per cent in four days.
On Monday, the rupee had moved up by 3 paise.
Unwinding of long-dollar positions by speculative traders and the currency's strong underlying fundamentals buoyed the home unit
The rupee settled at 61.71. In straight three sessions, the currency has shot up 51 paise or by 0.82 per cent.
SBI managing director PK Gupta told reporters that the rupee has been faring better than many of its peers, including the Turkish, Argentinean, and Indonesian currencies.
Forex dealers said besides robust month-end demand for the American currency from oil importers, dollar's strength against its rival currencies on expectations of rising interest rates amid lingering Sino-US trade tensions, weighed on the domestic currency.
The economy is likely to grow at about 5.6 per cent in 2014-15 and fiscal and current account deficits no longer pose a threat to macroeconomic stability, India Ratings said on Friday.
Extending losses for the fourth straight session, Indian rupee on Monday declined by ten paise to log over 13-month closing low of 63.67.
The rupee had shed 9 paise to end at 64.13 on Friday.
The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up by 0.31 per cent at 97.52.
The rupee closed marginally stronger against the dollar on Wednesday.
Rupee closed at 61.86 against the dollar on Tuesday.
The greenback's strength against other Asian currencies and lacklustre local equity markets made the rupee depreciate.
The domestic currency had gained seven paise on Friday.
It has gained by 23 paise or 0.36 per cent in two days
Sustained rise in equity markets in view of progress in monsoon mainly boosted the rupee value against the dollar.
The rupee had depreciated by 13 paise to end at 67.20.
Dollar's weakness against other currencies in the global market made the local unit stronger.
The rupee has lost 23 paise or 0.35 per cent in two days.
The rupee is under pressure for the past one week.
The rupee slumped to 64-level against the American currency, its second straight fall this week.
It moved in a range of 63.54 and 63.81 per dollar during the day.
The local currency had shed 2 paise to close at 63.44 on Tuesday.
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