The domestic unit closed lower by 6 paise at 66.71.
In the global market, dollar fell against most of its rivals on Monday.
He based his optimism on hedging tools available.
The dollar index was down by 0.02 per cent against a basket of six major currencies.
On Monday, the rupee had moved up by 3 paise.
Rupee weakened by 10 paise to end at 66.14 against the dollar due to month-end demand from importers and banks.
The dollar was weak against major world currencies.
The rupee resumed lower at Rs 53.54/55 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53.23/24 per dollar, and declined further to a record low of Rs 53.80 against the American currency before quoting at Rs 53.60/61 per dollar at 1030 hours.
There was fresh selling of the American currency by banks and exporters
The US dollar index was up by 0.16 per cent at 96.53.
"Commerce ministry pushes for all these things. There is no proposal to devalue," a top finance ministry official said. "Exporters would have come to the commerce ministry with this issue. However, there is nothing to discuss from our side."
The rupee hovered in a range of 63.75 and 63.84.
Therupee staged a smart rebound from its low towards the fag-end trade on dollar selling as well as suspected intrusion by the Reserve Bank to end steady at 63.39.
The rupee had firmed up by 28 paise to close at 3-week high of 66.97 in Monday's trade.
Rupee edges higher against dollar at close.
The domestic currency has tumbled by 104 paise, or 1.63 per cent, in last six trading days.
The Indian rupee on Monday appreciated by 16 paise against the American currency in early trade on hopes of increased capital inflows from foreign funds boosted by last week's rally in the stock markets.
The trading range is expected to be within 63.00 to 63.80.
The rupee had hit a record low of 68.85 in August 2013.
The rupee had ended 5 paise lower at 67.49 on Monday.
The rupee had advanced 7 paise to end at 65.51 on Thursday.
Reserve Bank Governor Shaktikanta Das on Friday said 67 per cent of the decline in the foreign exchange reserves since April was due to valuation changes arising from strengthening US dollar and higher American bond yields. The forex reserves, which stood at $606.475 billion as on April 2, have declined to $537.5 billion as on September 23. It was also the eighth straight week when the reserves declined.
The rupee on Tuesday lost another 15 paise against the US dollar to close at 65.88
On Monday, the rupee had lost 14 paise to close at 66.62 against the US dollar.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
The dollar index surged to multi-year high.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
The rupee ended steady against the American currency at 66.19 per dollar at the Interbank Foreign Exchange here today in view of steady dollar in the overseas market.
Global liquidity has gone down a little. What seems to have tipped the balance is a sudden realisation in the markets that the rising cost of cash would hurt global growth. That, in turn, would impinge on the demand for commodities and high-yielding currencies, says Abheek Barua.
India is one of the few countries in the region that enjoys good relations with both Israel and Saudi Arabia, and IMEC would allow it to recreate the old Spice Route to Europe. All this is in jeopardy now, notes Rajeev Srinivasan.
The rupee closed almost flat at 65.76 against the US dollar on some demand for the American currency from banks.
Rupee is under pressure against the dollar on weak cues.
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.
The rupee touched a high and low of 65.91 agaisnt the greenback during the day.
The rupee had depreciated by 13 paise to end at 67.20.
The dollar index eased 0.05 per cent to 98.69.
The rupee is seen weakening against dollar in current week.
The dollar was firm against some global currencies which also weighed on the rupee.
Forex dealers attributed the fall to increased demand for the dollar.
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