On Monday, the rupee had moved up by 3 paise.
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.
Unwinding of long-dollar positions by speculative traders and the currency's strong underlying fundamentals buoyed the home unit
The rupee closed marginally stronger against the dollar on Wednesday.
Rupee closed at 61.86 against the dollar on Tuesday.
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 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
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.
Sustained rise in equity markets in view of progress in monsoon mainly boosted the rupee value against the dollar.
The rupee is under pressure for the past one week.
The rupee has lost 23 paise or 0.35 per cent in two days.
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 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.
The rupee had firmed up by 28 paise to close at 3-week high of 66.97 in Monday's trade.
Monday's morning trade sees increased selling of USD by exporters.
The rupee on Monday tumbled by 68 paise to close at a nearly 8-week low of 66.44 against the American currency.
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The local currency opened at 62.20 a dollar from the previous close of 61.93 and immediately touched a low of 62.29 at the interbank foreign exchange market.
Increased demand for the dollar from importers put pressure on the rupee.
The rupee extended its fall for the fourth consecutive day by losing another 6 paise to hit a fresh one-month low of 62.31.
The rupee surged to its highest level in five weeks to end at 65.58 by gaining 38 paise against the US currency.
The rupee fell sharply by 32 paise at 66.37 against the US dollar in early trade on Tuesday.
The rupee on Tuesday lost another 15 paise against the US dollar to close at 65.88
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
The currency lost six paise on sustained dollar demand from importers.
The rupee had gained two paise to close at one-month high of 62.14 against the dollar in Tuesday's trade.
There was fresh dollar demand from banks and importers.
The US dollar index, which measures greenback's strength against a trade-weighted basket of six major currencies, was up 0.14 per cent at 96.74.
The rupee bounced back by 10 paise to end at 68.62 on Friday.
At the Interbank Foreign Exchange market, the domestic unit commenced higher at 61.80 a dollar from previous close of 61.92.
The rupee on Tuesday gained 14 paise to close at 61.88 against the dollar.
Rupee is under pressure against the dollar on weak cues.
Rupee is likely to remain under pressure due to domestic concerns.
