The domestic unit moved in a range of 64.14 and 63.99.
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
Extending its losing streak for the fourth straight day, the rupee weakened by five paise to 61.01 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
Rupee is under pressure against the dollar say currency watchers.
The rupee had jumped by 164 paise or 2.39 per cent in previous six trading days.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
A sustained rise in equity market also boosted the rupee sentiment.
Sharp fall in domestic stock market also affected the rupee sentiment.
A weak US dollar in overseas markets was the main reason for the rupee's rise even as losses in domestic stocks and some fag-end dollar demand from importers prevented further gains
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Fag-end dollar selling by exporters helped the rupee to recover lost ground and settle at the day's high of 60.77, a gain of 11 paise. The rupee earlier touched an intra-day low of 61.21 on July 8.
Forex dealers said besides dollar's gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
The steep fall in rupee came on a day when the Reserve Bank of India in its first quarter review of monetary policy kept the all key rates unchanged but cut the gross domestic growth forecast to 5.5 per cent for FY'14 from 5.7 per cent earlier.
A massive rally in domestic equities along with smooth supply of dollars on the back sustained capital inflows into equities and debt predominantly helped the upmove
After another day of volatile trade, the rupee today appreciated by seven paise to close at a new one-month high of 59.04 against the dollar as the RBI's liquidity-tightening measures continued to lend support.
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Snapping a two-day fall, the rupee opened strong at 59.49 a dollar from the previous close of 59.76 at the Interbank Foreign Exchange Market and then touched a low of 59.59.
Forex dealers said rebound in domestic stock markets also helped the rupee strengthen against the dollar.
Increased demand for the American unit from importers and banks, affecting the value of the rupee
The Indian rupee ended slightly lower at 64.01/02 per dollar compared with Tuesday's close of 63.98/99 per dollar due to month-end dollar demand by importers.
The rupee has dropped by 60 paise or 0.89 per cent in the last three trading days.
The rupee has lost 37 paise or 0.55 per cent in two days.
The rupee recovered by three paise to close at 67.65 on fresh selling of dollars by banks and exporters amidst a recovery in equities.
Sustained dollar unwinding from exporters and banks amid weak overseas trend gave a boost to the rupee
The rupee has dropped by 83 paise or 1.24 per cent in three days
Persistent fall in crude oil prices affected the market sentiment
The Rupee is seen recovering from its all-time lows against the dollar.
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A weak rupee makes imports costlier, including oil and other commodities.
On Friday, the rupee had gained 9 paise to close at a fresh one-week high of 67.08.
Adequate dollar supply gave a boost to the local currency
Falling for the fourth day in succession, the rupee today dipped by 23 paise to close at nearly three-week low of 59.38 against the dollar amidst the RBI announcing an SLR cut that is expected to release nearly Rs 40,000 crore into markets.
The rupee ended marginally higher by two paise at 62.24 against the dollar on Wednesday.
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
The domestic currency has dropped 40 paise or 0.60 per cent in two days
The rupee on Monday ended lower by 23 paise to close at an over two-week low of 67.31 against the US currency.
The domestic currency has dropped by 62 paise or 0.93 per cent in four trading days.
Heavy selling of the US dollar by banks and exporters in the face of renewed capital inflows predominantly kept sentiment highly buoyant
Weakness in dollar in the overseas market also boosted the rupee value
Frantic dollar demand from corporates along with an aggressive hedging strategy adopted by importers in the wake of the currency volatility predominately took a toll on the domestic unit despite moves by the central bank to stabilise the currency.
Persistent foreign capital inflows also boosted sentiment.
The US dollar's weakness against some currencies overseas capped the losses.
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