At the Interbank Foreign Exchange market, the domestic unit commenced higher at 61.80 a dollar from previous close of 61.92.
IndiGo's ascent is not without its risks, however.
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
In all, RBI has cut interest rates by 110 bps this year. But this has not yet led to a boost in economic activity. While the growth rate has slowed to a five-year low, consumer confidence is waning and foreign direct investment has plateaued.
Indians are no more rushing to buy bullion after this week's sharp sell-off
'The government has used the current macro situation to its advantage.'
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
The Indian currency had appreciated by a whopping 85 paise in three-day surge
The growth had slumped to sub-5 per cent in the earlier two consecutive fiscals.
The domestic currency had lost 63 paise to close at over four-month low of 61.18 against the dollar in Friday's trade on weakness in global stock markets and a strong US currency overseas.
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The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
The domestic unit had recovered to 68.65 in early trade on Friday as against Thursday's closing of 68.72.
S&P Global Ratings has forecast India's economy to shrink by 5 per cent in the current fiscal. It, however, has projected GDP growth to be 8.5 per cent in 2021-22 and 6.5 per cent in 2022-23.
In New York, the dollar fell against the British pound on Wednesday after the Bank of England raised its projections for UK growth in 2014. However, analysts warned that gains against the dollar could be limited.
In the near term, the key driver will still be the government's fiscal spending.
Dealers attributed the rupee's fall to increased demand for the US currency from importers.
It said New Delhi increased its purchase of foreign exchange over the first three quarters of 2017 which does not appear necessary.
The increase in PV sales in September was driven by festive season purchases, with SUV models like Maruti Suzuki's Brezza, Hyundai Creta, Mahindra Scorpio, Ford Ecosport and Honda W-RV witnessing good traction
Market breadth continued to remain strong, with 1899 gainers and 674 losers on the BSEs.
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
The currency lost six paise on sustained dollar demand from importers.
Sensex ended above 26,000 led by telecom shares amid TRAI's spectrum sharing norms.
China, it said, is projected to grow at 6.6 per cent in the current year which will moderate to 6.4 per cent next year.
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Rupee has gained by 15 paise or 0.24 per cent in two days.
Bearish greenback overseas and robust capital inflows predominantly supported the domestic currency
India is currently under the 21-day lockdown since March 25, with only essential services exempted to contain the fast-spreading virus.
Given that there are hundreds of players in the shadow banking space, it's hard to make a credible estimate of potential NPAs. That creates more scope for panic, says Devangshu Datta.
Forex dealers said apart from month-end demand for the American currency from importers, dollar's gains against other currencies overseas amid US data showing more-than-expected economic growth in the second quarter also put pressure on the local unit.
The Rupee is seen recovering from its all-time lows against the dollar.
The 30 share Sensex ended up 183 points at 27,470 and the 50-share Nifty gained 44 points to close at 8,295.
Financials are the top gainers along with index heavyweights.
Sustained dollar unwinding from exporters and banks amid weak overseas trend gave a boost to the rupee
As FIIs pull out of road projects, doubts have surfaced about the future of new highways and roads
Opportunities for job seekers are expected to grow even better in 2015 with employers in India being most optimistic on hiring, says a report.
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
