Rupee was impacted by renewed dollar demand from banks and importers amid sharp falls in equity market
The domestic currency tumbled by 45 paise or 0.68 per cent in two days.
Increased demand for the dollar weighed on the local currency.
The rupee recovered from initial losses against the American currency and was quoted higher by 6 paise to 62.00 on fresh selling of dollars by banks and exporters in view of strong foreign capital inflows into equity market.
The dollar index, which tracks the world's reserve currency against a basket of its peers, is down 0.16 per cent at 97.58.
Forex dealers said dollar's weakness against other currencies overseas supported the rupee.
Persistent fall in crude oil prices affected the market sentiment
The rupee had risen for the fifth straight session on Thursday.
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.
The rupee had lost 10 paise to close at 21-month low of 64.26 against the greenback in Tuesday's trade.
The rupee plunged by 28 paise to more than 2-month low of 66.47 against the US dollar on Monday.
In overseas trade, the American currency traded lower against the yen and the euro in an Asian session as well as modest profit-taking after recent sharp gains
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 had ended five paise lower at 61.92 on Tuesday.
The benchmark Sensex conquered yet another milestone of 28,000 for the first time briefly before concluding at a new closing peak of 27,915.88, a rise of 55.50 points of 0.20 per cent.
The domestic currency had lost 15 paise to close at 63.82 on Wednesday.
The dollar's weakness against some currencies overseas limited the rupee's fall.
A weakening dollar against other currencies overseas supported the rupee.
The Indian unit opened sharply higher at 64.80 as against Wednesday's closing level of 65.12.
Sluggish domestic equities and persistent capital outflows largely pressurised the Indian unit
The rupee on Friday snapped its two-day gaining streak against the US dollar.
Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
The rupee had recovered from its 29-month lows by rising 39 paise to close at 67.63 on Friday.
The rupee on Tuesday weakened by 15 paise to close at 63.30 against the US currency
The rupee ended lower by 7 paise to 62.31 against the American currency on fresh dollar demand from banks.
The Indian rupee on Friday rose for the fifth straight session against the Greenback and ended at 62.46.
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
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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.
On Monday, the rupee gained 16 paise.
Trading activity was adversely affected at the Interbank Foreign Exchange market early on Wednesday because of thin attendance due to the Mumbai bandh called by the Opposition parties in the state.
The rupee slipped marginally by two paise at 66.43 against the US dollar on good demand
On Wednesday, the rupee had dropped by 26 paise.
Rupee ends day at 61.91 against the US dollar.
The rupee had ended 11 paise higher at 62.20 on Tuesday.
Consistent capital inflows and a recovery in local equities helped the local unit to trim initial losses
The rupee resumed marginally lower at 67.24 per dollar against Wednesday's closing level of 67.21.
Dollar weakness was a major contributor to the rupee recovery as the skittish investors continued to lighten their long positions.
In one of the largest deals by an Indian telecom company, Reliance Infocomm has raised $300 million from overseas markets through syndicated loans to part-finance its $5.5 billion telecom project.
