The dollar strengthened against major world currencies.
Forex market was shut on Tuesday on account of 'Mahavir Jayanti'.
The rupee had gained by 50 paise or 0.75 per cent in two weeks.
The gains were capped due to month-end dollar demand from importers, mainly oil firms
In the global market, the US dollar index, which tracks the greenback against a basket of six major rivals, was up by 0.33 per cent.
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
Even the persistent rise in equity market failed to restrict the rupee's fall.
The rupee ended the day stronger against the dollar.
The Centre is unlikely to announce an agreement over payment mechanism with Russia until a ceasefire is declared in the Ukraine war, said people in the know. An inter-ministerial group headed by the finance ministry has been meeting regularly for over a month to analyse and discuss payment mechanisms that can work under the current circumstances and ensure the trade between India and Russia is not disrupted. The US had recently said that there would be consequences for countries actively attempting to "circumvent or backfill" American sanctions against Russia.
Sitharaman also said different departments of the government are working to provide relief to industry, which could be severely impacted by the fast-spreading virus.
The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions.
Forex dealers said dollar's weakness against other currencies overseas supported the rupee.
The rupee depreciated further by 7 paise to 65.12.
The rupee continued to rule firm against the dollar for the second consecutive day.
Globally, gold fell by 1.32 per cent to $1,125.40 an ounce and silver by 3.98 per cent to $14.11 an ounce in New York in yesterday's trade.
Increased demand for the American unit from importers weighed on the rupee
The rupee had dropped by 60 paise or 0.89 per cent in previous three trading days.
The rupee had snapped its 3-day losing streak on Thursday.
RBI governor Raghuram Rajan, on Monday, said the current level of the rupee is "pretty reasonable" and any attempt to devalue it may lead to a surge in inflationary pressures and "offset any benefits"
The rupee resumed lower at 63.65 per dollar as against previous closing of 63.58 at the Interbank Foreign Exchange (Forex) market.
Sustained demand for the dollar is the reason.
Domestic equity markets opened with losses which capped the rupee gains.
On Monday, the rupee gained 16 paise.
Increased month-end demand for the US currency from importers put pressure on the rupee
In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
Tracking local stocks, rupee on Tuesday regained 19 paise to end at 61.85 against dollar as reports of easing geopolitical tension between Russia and Ukraine helped emerging market currencies script a smart recovery.
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Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
The rupee has dropped by 60 paise or 0.89 per cent in the last three trading days.
The dollar gained against other currencies overseas.
The rupee largely shrugged off the high volatility in stocks and rebounded sharply towards the fag-end trade following bout of dollar selling by exporters
The rupee on Monday slipped by 5 paise to close at 63.57 per dollar on fresh demand for the American currency from banks.
Silver also extended its losing streak for the seventh straight session and declined by Rs 350 to Rs 44,200 per kg.
If the Fed hikes policy rates for the dollar, that will probably mean a move into US Treasuries for speculators.
The rupee had strengthened by 19 paise on Monday.
Gold tumbled by Rs 310 to Rs 30,290 per ten grams in the national capital today on heavy sell-off by stockists and a weak global trend.
Traders said sustained selling by stockists on the back of sluggish demand mainly kept pressure on precious metals.
The Rupee is seen strengthening against the dollar.
The rupee had plummeted to over three-month low of 63.32.
In January last year, the US signed the first phase of the trade deal with China, which former President Donald Trump described as historic, concluding more than a year of tough negotiations including several months of suspension of talks between the two largest economies of the world.
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