The domestic unit had recovered to 68.65 in early trade on Friday as against Thursday's closing of 68.72.
The 30-share Sensex lost 12 points to end at 29,559 and the 50-share Nifty climbed 4 points to close at 8,914.
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
Dealers expect prices to fall further, owing to an impending rate hike in the US
Stockmarket Gurus Raamdeo Agrawal, Manish Gunwani, S Naren and Nilesh Shah discuss their favourite themes for the New Year.
'The good news is that till the time there is growth in gross domestic product, Indian markets will continue to rise.'
The rupee closed at 60.31/32 on Thursday.
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.
'The government has used the current macro situation to its advantage.'
The rupee on Thursday appreciated 20 paise to end at 62.37, its highest in two weeks, on positive trends in local equities and fresh dollar selling by exporters.
The global economy may just be entering a new phase.
Select metal stocks rebounded while power stocks extended losses after SC verdict on coal block allocations.
Standard and Poor's raised the outlook for India's "BBB-minus" rating back to "stable" from 'negative,' saying Prime Minister Narendra Modi government's 'strong' mandate would allow it to implement fiscal and economic reforms.
The Indian currency had appreciated by a whopping 85 paise in three-day surge
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
Market breadth continued to remain strong, with 1899 gainers and 674 losers on the BSEs.
'You need to devalue the currency, ignite inflation, which then begins to oil the wheels of the economy.' 'Without that this severe recession is not going to reverse.'
However, investors have turned cautious over the likelihood of Britain leaving the European Union.
In line with Sensex, the broader indices also saw hefty losses. Large cap index tumbled 0.79 per cent, midcap 0.87 per cent and smallcap 0.57 per cent.
Sensex, Nifty slightly upbeat, midcaps to rule markets this week.
Spotlight likely on cement, metals, road cos
The 30-share Sensex ended down 32 points at 28,851 and the 50-share Nifty closed 12 points lower at 8,712.
Markets across the globe gained after China Securities Regulator removed its four-day-old circuit-breaker system.
The rupee ended lower by 7 paise to 62.31 against the American currency on fresh dollar demand from banks.
Metal shares were the top gainers with Hindalco up over 5%.
'After multiple days of losses, any relief rally is welcome. However, the trend hasn't changed.'
In its report 'Global Top Picks', Barclays expects the current bull market in global equities to continue, generating a total return of 9 per cent in 2015.
Rupee has gained by 15 paise or 0.24 per cent in two days.
The 30-share Sensex ended down 208 points at 27,057 and the 50-share Nifty closed 59 points lower at 8,094.
Sensex closed over 118 points down on Thursday.
Sustained dollar unwinding from exporters and banks amid weak overseas trend gave a boost to the rupee
While some companies, such as HSBC, have closed retail operations, big players such as India Infoline is scaling down.
In the near term, the key driver will still be the government's fiscal spending.
Sensex closed the day 416 points higher.
Bank shares were the top losers after sharp gains last week.
The past eight months have seen vast improvement in the Indian economy, says Edelweiss Group chairman and chief executive Rashesh Shah, who feels domestic-oriented sectors are likely to do better.
TCS, Infosys and Wipro were down 0.4-2% each. Capital goods majors also ended lower with L&T and BHEL down 1.4-3.9% each.
Gains were led by Tata Motors on robust Q1 earnings and HDFC Group shares.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
