The domestic unit closed lower by 6 paise at 66.71.
The rupee settled at 61.71. In straight three sessions, the currency has shot up 51 paise or by 0.82 per cent.
The economy is likely to grow at about 5.6 per cent in 2014-15 and fiscal and current account deficits no longer pose a threat to macroeconomic stability, India Ratings said on Friday.
The rupee on Wednesday strengthened by another 3 paise to 62.82 against the US dollar.
Extending losses for the fourth straight session, Indian rupee on Monday declined by ten paise to log over 13-month closing low of 63.67.
The rupee closed marginally stronger against the dollar on Wednesday.
Unwinding of long-dollar positions by speculative traders and the currency's strong underlying fundamentals buoyed the home unit
The dollar was firm against some global currencies which also weighed on the rupee.
The rupee on Monday failed to maintain initial gains and ended lower by five paise at 60.21 against the dollar on fag-end demand for the US currency from banks and importers.
Rupee is likely to remain under pressure due to domestic concerns.
The rupee closes 12 paise down against the dollar.
The rupee had firmed up by 28 paise to close at 3-week high of 66.97 in Monday's trade.
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A weak rupee makes imports costlier, including oil and other commodities.
The domestic currency had last ended at 64.17 per dollar.
The rupee had lost 21 paise on Tuesday's trade.
The local currency had surged 18 paise to 63.64 in Thursday's trade.
On Wednesday, the rupee ended barely steady at 64.93.
The Rupee is seen weakening further against the dollar.
The US stimulus programme has been credited with fuelling a global equities rally for most of the year.
The rupee had advanced 7 paise to end at 65.51 on Thursday.
The rupee had jumped by 16 paise to end at over two-month high of 61.71 against the greenback on good inflows in local markets and sustained dollar sales by exporters.
The rupee ended higher for the second consecutive week.
Increased demand for the American unit from importers weighed on the rupee
The greenback's strength against other Asian currencies and lacklustre local equity markets made the rupee depreciate.
The domestic currency had gained seven paise on Friday.
The rupee fell back against the pound to 98.72 from overnight close of 98.48 and turned negative to end at 77.44 per euro from Rs 77.37.
The rupee slumped to 64-level against the American currency, its second straight fall this week.
It moved in a range of 63.54 and 63.81 per dollar during the day.
The dollar index eased 0.05 per cent to 98.69.
The rupee edged higher by three paise to 66.46 against the US dollar in early trade on Wednesday.
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Chidambaram further said government has taken a number of fiscal and administrative measures from time to time to contain inflation especially food.
The rupee on Tuesday fell by 25 paise to 65.05 on fresh dollar demand from banks and importers despite persistent foreign capital inflows.
Weakness of dollar in the overseas market also boosted the domestic currency, a forex dealer said.
Increased demand for the dollar from importers put pressure on the rupee.
The rupee had lost three paise to hit two-month closing low of 66.80.
Extending losses for the second straight session, the rupee slipped by 11 paise at 66.54 against the US dollar.
The rupee had gained two paise to close at one-month high of 62.14 against the dollar in Tuesday's trade.
The rupee had shed 13 paise to close at 64.04.
A weak dollar overseas supported the rupee sentiment.
At the Interbank Foreign Exchange market, the domestic unit commenced higher at 61.80 a dollar from previous close of 61.92.
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