Traders hope elections will see BJP winning a majority to usher in reforms and pull the economy out of the current slow growth.
In Hong Kong market, the dollar fell against Japanese yen in early trade after the release of a set of stronger- than-expected economic data.
The rupee recovered marginally at close against the dollar.
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.
Forex dealers said besides increased selling of the American currency by exporters and banks, the dollar's weakness against other currencies overseas also supported the rupee, but a lower opening in the domestic equity market limited the rise.
With the benchmark Sensex witnessing a dream-run, total market valuation of BSE listed companies has inched closer to Rs 100 lakh crore milestone.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Forex dealers said besides dollar's gains against other currencies, increased demand for the American unit from importers put pressure on the rupee, but a higher opening in the domestic equity market limited the losses.
Rupee logs longest winning streak since 2012; up 19 paise.
Earlier, the rupee resumed slightly lower by 60.77 as against the last closing level of 60.76 at the Interbank Foreign Exchange Market but it immediately gained strength to quote 60.69 in early trade on bouts of dollar selling by exporters.
Sluggish domestic equities and persistent capital outflows largely pressurised the Indian unit
The rupee gained 28 paise on Thursday to close at 62.50.
Domestic equity markets opened with losses which capped the rupee gains.
Traders also say oil-related dollar demand is capping broader gains in the rupee.
The dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up by 0.19 per cent at 95.48.
'We will supply dollars in case of extreme volatility.'
Investors are trying to push ahead with dollar purchases, emboldened by improving market sentiments
The rupee had shed four paise at 63.81 against the US dollar in Friday's trade on sustained demand.
India's current account deficit narrowed sharply to just $300 million
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.
The dollar index was trading higher by 0.06 per cent against its major global rivals today.
The Indian currency had appreciated by a whopping 85 paise in three-day surge
Investors will keenly watch US Fed meet starting Tuesday
The rupee appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters.
Dealers attributed the rupee's fall to fresh demand for USD.
US dollar was firm against global currencies in overseas markets on rising prospects for a rate hike by US Federal Bank, which hit the rupee sentiment
Rising production from OPEC as well as the US also weighing on prices
Increased demand for the dollar from importers affected the value of the rupee
The rupee had lost 10 paise to close at 21-month low of 64.26 against the greenback in Tuesday's trade.
On Monday, Reserve Bank hiked the lending rates to banks by 2 per cent to 10.25 per cent.
The rupee declined marginally by 3 paise to 66.03 per dollar on fresh demand for the US currency from banks and importers.
In recent sessions, shares have rallied on hopes Hindu nationalist opposition leader Narendra Modi, a more business-friendly candidate, is seen coming to power on promises of economic revival and jobs.
The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions.
US gold futures slid over 1 per cent on Thursday, while silver futures dropped 2 per cent.
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
Lacklustre domestic equities alongside ongoing FCNR redemptions added pressure on the local currency
The rupee extended gains for the second straight session against the US currency by firming up 21 paise to close at 64.82 a dollar.
In worldwide trade, the American dollar traded with solid strength against all major emerging currencies
The greenback rose 9 percent against currencies.
The rupee recovered 14 paise to 66.40 against the dollar in early trade on Monday.
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