The rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
The rupee continued to rule firm against the dollar for the second consecutive day.
However, FII outflows of Rs 545 crore (Rs 5.45 billion) capped the gains in the rupee, which had slumped by 126 paise in past two days.
The rupee appreciated 6 paise to 78.27 against the US dollar in opening trade on Monday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment. However, elevated crude prices and persistent foreign fund outflows restricted the rupee's gain, forex dealers said. At the interbank foreign exchange, the rupee opened sharply up at 78.24 against the US dollar, then inched lower to quote 78.27, registering a gain of 6 paise over the last close.
This is its lowest level since August 30
Persistent fall in crude oil prices affected the market sentiment
Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
The rupee had slumped to its all-time closing low of 68.80 a dollar on August 28, 2013.
Rising for the second session, the Indian rupee on Thursday climbed by 50 paise to nearly four-week high of 62.67 against the greenback on persistent selling of dollars by banks and hopes of capital inflows in view of a strong equity market.
Robust foreign capital inflows into upbeat domestic equity markets on the back of better macro fundamentals helped the rupee to gain
Investors are trying to push ahead with dollar purchases, emboldened by improving market sentiments
Reflecting nervousness over the prospect of the Federal Reserve tightening policy and event risk, traders stayed on the sidelines
The rupee depreciated by 22 paise to close at a fresh lifetime low of 79.48 (provisional) against the US dollar on Monday, tracking a strong greenback overseas and subdued domestic equities. However, receding crude oil prices in the international market restricted the rupee's loss, forex traders said. At the interbank forex market, the local unit opened weak at 79.30 against the greenback and witnessed an intra-day high of 79.24 and a low of 79.49.
The domestic currency had gained by 80 paise, or 1.19 per cent, in previous five trading days.
In worldwide trade, the US dollar continued its highly bullish trend against all major emerging market currencies
The Indian rupee resumed sharply lower at 66.65 per dollar against last Friday's level of 66.48.
Dealers attributed the rupee's fall to increased demand for the US currency from importers.
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
Forex market was shut on Tuesday on account of 'Mahavir Jayanti'.
The RBI fixed the reference rate for the dollar at 65.2525 and for the euro at 72.1954.
Financials were the top losers while oil shares also declined amid weak crude oil prices.
Sensex firm on favourable GDP numbers for FY16.
In the global market, the US dollar index, which tracks the greenback against a basket of six major rivals, was up by 0.33 per cent.
The rupee ended marginally higher by two paise at 62.24 against the dollar on Wednesday.
Increased demand for the American unit from importers and banks, affecting the value of the rupee
Fresh dollar selling by banks and exporters largely helped the home currency to recover from early losses
The $5.7 billion total includes $1.6 billion in fines separately imposed by the US Federal Reserve on the five banks.
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
A weak dollar sentiment across the board alongside unwinding of long positions by speculative traders ahead of key US macro data release largely supported the rupee
The US currency's decline against major world currencies alongside fag-end dollar supply largely helped the rupee recoup some of its initial losses
A firming trend in domestic stock markets, however, capped the rupee fall to some extent
The rupee has dropped by 83 paise or 1.24 per cent in three days
Weakness of dollar in the overseas market also boosted the rupee value.
The rupee briefly touched 66.78 in late afternoon trade due to stray dollar buying by some banks.
Heavy dollar selling by banks and exporters alongside debt-related inflows largely supported the rupee
A sustained rise in equity market also boosted the rupee sentiment.
A massive rally in domestic equities along with smooth supply of dollars on the back sustained capital inflows into equities and debt predominantly helped the upmove
Good foreign capital inflows failed to restrict the rupee's fall against the dollar
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
The dollar's weakness against some currencies overseas limited the rupee's fall.
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