The rupee had recovered by 8 paise to close at 66.91 in Tuesday's trade.
Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market also supported the local currency.
Forex dealers said dollar's weakness against other currencies overseas supported the rupee.
Rupee hits more than two-year low; RBI intervenes
The rupee is expected to remain under pressure in the near term, given the strengthening of the dollar against major global currencies and widening of the trade deficit.
The dollar index was down by 0.02 per cent against a basket of six major currencies.
Rupee weakened by 10 paise to end at 66.14 against the dollar due to month-end demand from importers and banks.
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The rupee gained 8 paise to close at over two-week high of 61.23 against the US dollar in the previous session.
The rupee fell because of fresh demand for dollar from importers.
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
The US dollar index was up by 0.16 per cent at 96.53.
The domestic currency had lost 15 paise to close at 63.82 on Wednesday.
The rupee on Wednesday strengthened by another 3 paise to 62.82 against the US dollar.
Rupee hits 2-month low against dollar on US rate hike fears.
The rupee had ended 11 paise higher at 62.20 on Tuesday.
Domestic equity markets opened with losses which capped the rupee gains.
Sustained rise in equity markets in view of progress in monsoon mainly boosted the rupee value against the dollar.
The dollar index surged to multi-year high.
The rupee appreciated further on Thursday, adding 106 paise to 66.01 against the dollar, after steps taken by new Reserve Bank of India Governor Raghuram Rajan to attract US currency inflows boosted market sentiment.
The rupee closed almost flat at 65.76 against the US dollar on some demand for the American currency from banks.
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
Falling for the third day, Indian rupee on Wednesday weakened by 14 paise to close at over one-week low of 62.02 against the Greenback.
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Fag-end dollar selling by exporters helped the rupee to recover lost ground and settle at the day's high of 60.77, a gain of 11 paise. The rupee earlier touched an intra-day low of 61.21 on July 8.
Monday's morning trade sees increased selling of USD by exporters.
The rupee had shed 10 paise to close at 66.14.
The rupee settled at 61.71. In straight three sessions, the currency has shot up 51 paise or by 0.82 per cent.
The domestic unit moved in a range of 64.14 and 63.99.
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.
Strong rebound in local equities restricted the rupee's fall.
Forex dealers said weakness in local equities cast a shadow on the rupee. Dollar losing in overseas markets didn't impact the fall of the local currency, they added.
There is high demand for the US currency from importers
Rupee is likely to remain under pressure due to domestic concerns.
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
The rupee ended steady against the American currency at 66.19 per dollar at the Interbank Foreign Exchange here today in view of steady dollar in the overseas market.
The local currency opened higher at 61.20 a dollar from the previous close of 61.30 at the Interbank Foreign Exchange Market.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
Increased demand for the American unit from importers weighed on the rupee
The rupee extended its fall for the fourth consecutive day by losing another 6 paise to hit a fresh one-month low of 62.31.
The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions.
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Snapping a two-day fall, the rupee opened strong at 59.49 a dollar from the previous close of 59.76 at the Interbank Foreign Exchange Market and then touched a low of 59.59.
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