In cross-currency trades, the rupee recovered sharply against the pound sterling to finish at 93.13.
The RBI fixed the reference rate for the dollar at 63.8061 and for the euro at 69.6571.
The rupee had lost 27 paise to close at more than 5-week low.
Expectations of good foreign capital inflows into equity market in view of firm trend in the stock market also boosted the rupee value against the dollar.
The rupee had dropped by 18 paise to end at 66.40
The rupee recovered marginally at close against the dollar.
Bouts of month-end dollar demand from banks and importers hit the rupee
In overseas trade, the American currency traded lower against the yen and the euro in an Asian session as well as modest profit-taking after recent sharp gains
Overall forex market sentiment remained cautious
The rupee ended almost flat against the dollar.
The rupee ended the day stronger against the dollar.
Rupee logs longest winning streak since 2012; up 19 paise.
The rupee gained 28 paise on Thursday to close at 62.50.
Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market also supported the local currency.
Fresh dollar demand from banks and importers amidst volatile equities triggered the fall
Volatile currency market sentiment across Asia following a fresh round of China's yuan depreciation further added to gloom.
The rupee on Tuesday recovered from its two-week low to end steady at 66.60 against the American currency, inching up by a paisa on the back of mild dollar selling.
Earlier, the rupee resumed slightly lower at 61.70 per dollar as against Tuesday's close of 61.69 at the Interbank Foreign Exchange market.
However, the hefty initial gains of the rupee, which had jumped to 61.05 intra-day, were substantially erased on month-end demand for US dollars from private oil firms and some defence-related purchases, amid fall in domestic stocks.
Fresh dollar selling by banks and exporters largely helped the home currency to recover from early losses
The rupee appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters.
The Fed's decision on tapering its monthly $85 billion bond-buying programme is expected later on Wednesday.
A smart rebound in the stock market and sustained capital inflows restricted the rupee loss
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In the global market, the US dollar rose against the basket currencies in early trade as US President Barack Obama called for diplomacy in dealing with alleged chemical weapons attack in Syria but kept open the possibility of military action against the Assad regime.
The rupee resumed higher at 64.40 a dollar from Friday's close of 65.24 and touched a low of 64.54 at the interbank foreign exchange market.
Reflecting nervousness over the prospect of the Federal Reserve tightening policy and event risk, traders stayed on the sidelines
The Indian unit opened higher at 66.10 per dollar as against overnight level of 66.30 at the Interbank Foreign Exchange market and firmed up further to 66.04 on initial dollar selling.
Unwinding of long dollar positions by banks too aided the sentiment
A strengthening dollar overseas also kept the rupee under pressure amid demand from importers. Goldman Sachs followed JP Morgan, HSBC and Nomura in cutting India's economic growth forecast and also said it expects the rupee to touch 72 against the dollar in the next six months.
The US currency weakened against major Asian currencies in global markets which lifted the rupee sentiment
At lower levels, a supportive buying in dollar forced rupee to depreciate since opening trade
The local currency opened higher at 61.20 a dollar from the previous close of 61.30 at the Interbank Foreign Exchange Market.
The rupee had recovered by 8 paise to close at 66.91 in Tuesday's trade.
The Indian unit opened sharply higher at 64.80 as against Wednesday's closing level of 65.12.
The US dollar surged to fresh one-year high after the Fed chief's testimony to the US Senate on Wednesday bolstered the expectations of interest rate hikes, though gradually.
The rupee has gained by 21 paise or 0.31 per cent in last two days
A weak dollar overseas failed to restrict the rupee's decline, a forex dealer said.
Lower dollar in the overseas market also boosted the rupee value
