The rupee had gained 28 paise against the American currency to settle at nearly two-month high at 66.74 in Monday's trade.
At the Interbank Foreign Exchange Market, the rupee resumed lower at 59.72 a dollar from the previous close of 59.67 and declined to a low of 59.88. It bounced back on dollar selling by exporters and some banks, touching a high of 59.30 before settling at 59.35, a rise of 0.54 per cent.
A lower opening of the domestic equity market put pressure on the rupee.
Banks and importers preferred to increase their dollar position at the current level, a forex dealer said.
On Monday, the rupee gained 16 paise.
Foreign institutional investors pulled out Rs 86.66 crore (Rs 866.6 million) from local stocks on Monday, as per provisional BSE data.
The dollar index was up by a whopping 0.45 per cent against basket of six major global rivals, which also pushed the rupee to log its biggest daily loss since September 15.
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In the global market, the US dollar rose against the basket currencies in early trade as US President Barack Obama called for diplomacy in dealing with alleged chemical weapons attack in Syria but kept open the possibility of military action against the Assad regime.
The dollar index was up by 0.43 per cent against a basket of six major currencies as euro dropped against the dollar, after quarterly economic reports from France and Germany missed expectations, said analysts.
However, foreign capital inflows into equity market restricted the rupee's fall to some extent.
The domestic currency had lost 10 paise to close at 59.03 against the dollar in Thursday's trade amid capital outflows linked to fall in equities.
The rupee had hit a record low of 68.85 in August 2013.
SBI managing director PK Gupta told reporters that the rupee has been faring better than many of its peers, including the Turkish, Argentinean, and Indonesian currencies.
The rupee added another 8 paise to end at 61.23 against the dollar, the highest level in more than two weeks, as the US currency traded stable ahead of the outcome of Federal Reserve's meeting today and as domestic shares surged to a record.
The rupee depreciated 20 paise to close at 63.84 in Monday's trade.
Unwinding of long dollar positions ahead of the US job data backed the rupee sentiment
On Wednesday, the rupee had dropped by 26 paise.
The rupee appreciated by 37 paise to 62.12 against the dollar in early trade on Monday.
The rupee is trading weak against the dollar in afternoon trade.
The rupee on Thursday plummeted to an over three-month low of 63.32 by losing 50 paise against the US dollar.
The rupee bounced back by four paise to close at 65.27 per dollar on fresh selling of the American currency by banks.
The rupee is under pressure for the past one week.
Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.
Cautious optimism over US-China trade talks after US President Trump said his trade negotiators had received two "very good calls" from Beijing also influenced the local currency, dealers said.
A strong dollar overseas and some hesitancy in local stocks, however, limited the rupee rise.
The rupee opened slightly higher by Rs 67.24 against Tuesday's closing level of Rs 67.26 per dollar.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
The rupee on Friday resumed lower at 60.25 a dollar from previous close of 60.19 at the Interbank Foreign Exchange market.
The rupee is seen weakening against dollar in current week.
A weak dollar overseas failed to restrict the rupee's decline, a forex dealer said.
It moved in a range of 66.9250 and 66.70 per dollar during the day
The rupee rallied for the second straight session by gaining 21 paise to end at 66.10 against US dollar.
The Indian rupee on Wednesday ended unchanged against the US dollar at 61.41 ahead of the outcome of US Federal Reserve's policy meeting.
Capital inflows continued to aid the rupee's rise, although a strong dollar overseas capped the gains.
The rupee ended lower by six paise at 65.73 against the US dollar on Monday.
The rupee resumed higher at 67.77 per dollar as against last Friday's closing level of 67.78.
The dollar was weak against major world currencies.
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.
Recovering from early losses, the rupee on Friday ended marginally higher at 64.81 against the US dollar.
The rupee resumed marginally lower at 67.24 per dollar against Wednesday's closing level of 67.21.
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