The local currency had lost 119 paise in the past five sessions on rising worries over current account gap and fears that withdrawal of US stimulus will hit inflows from overseas.
The US dollar surged to fresh one-year high after the Fed chief's testimony to the US Senate on Wednesday bolstered the expectations of interest rate hikes, though gradually.
Rupee hits more than two-year low; RBI intervenes
A higher opening in the domestic equity market influenced uptrend.
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.
A weak dollar overseas failed to restrict the rupee's decline, a forex dealer said.
The rupee rallied for the second straight session by gaining 21 paise to end at 66.10 against US dollar.
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 rupee bounced back by four paise to close at 65.27 per dollar on fresh selling of the American currency by banks.
A lower opening at the domestic equity market and the dollar's rise against other major currencies overseas also put pressure on the rupee, dealers said.
The rupee resumed marginally lower at 67.24 per dollar against Wednesday's closing level of 67.21.
Weak dollar against other currencies overseas supported the rupee
The rupee strengthened by 14 paise to close at 66.41 against the US dollar on Wednesday.
The rupee has lost 32 paise, or 0.50 per cent, in five trading days
The RBI fixed the reference rate for the dollar at 63.8061 and for the euro at 69.6571.
The rupee is trading weak against the dollar in afternoon trade.
Dealers attributed the rupee's fall to fresh demand for the US currency from importers
The rupee on Tuesday gained 29 paise to close at seven-month high of 60.48 against the dollar on sustained selling of the US currency by exporters and banks.
The rupee extended gains for the second straight session against the US currency by firming up 21 paise to close at 64.82 a dollar.
Rupee rises by 16 paise against dollar on fresh selling.
00 hours. The overall investors' wealth, measured in terms of valuation of all listed stocks, was down by nearly Rs 6 lakh crore in early morning trade, from nearly Rs 111.44 lakh crore at the end of Tuesday's trade.
A smart rebound in the stock market and sustained capital inflows restricted the rupee loss
Rupee ends day at 61.91 against the US dollar.
The rupee has depreciated by about 25 per cent in the past three months, from close to Rs 83 in mid-May, while it was even higher at about Rs 80 against the British Pound in March.
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.
In dull trade, the rupee on Monday ended a mere two paise lower at 60.20 against the US dollar on weak local equities and imported-driven demand for the American currency.
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
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.
Weak equity markets too hit rupee sentiment
The rupee weakened even as the dollar fell against major global currencies
Firm equity market failed to restrict the rupee's fall against the dollar
Expectations of good foreign capital inflows into equity market in view of firm trend in the stock market also boosted the rupee value against the dollar.
The rupee hit a near 10-month high as an alliance led by pro-reform and business friendly Hindu nationalist Narendra was on course for an absolute majority.
The rupee declined marginally by 3 paise to 66.03 per dollar on fresh demand for the US currency from banks and importers.
Tracking local stocks, rupee on Tuesday regained 19 paise to end at 61.85 against dollar as reports of easing geopolitical tension between Russia and Ukraine helped emerging market currencies script a smart recovery.
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions.
Forex dealers said dollar's weakness against other currencies overseas supported the rupee.
The rupee gained for the second day, climbing 23 paise to a one-week high of 62.07 against the dollar on Wednesday, amid a modest recovery in local stocks and sales of the US currency by exporters and banks.
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