The Indian unit opened sharply higher at 64.80 as against Wednesday's closing level of 65.12.
The rupee had recovered from its 29-month lows by rising 39 paise to close at 67.63 on Friday.
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
The rupee on Friday snapped its two-day gaining streak against the US dollar.
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.
On Wednesday, the rupee had dropped by 26 paise.
Dollar weakness was a major contributor to the rupee recovery as the skittish investors continued to lighten their long positions.
Ongoing trade-war rhetoric between the US and China added some nervousness on the trading front coupled with extremely bullish dollar sentiment overseas.
Consistent capital inflows and a recovery in local equities helped the local unit to trim initial losses
The US currency's decline against major world currencies alongside fag-end dollar supply largely helped the rupee recoup some of its initial losses
The rupee slipped marginally by two paise at 66.43 against the US dollar on good demand
The Indian rupee on Friday rose for the fifth straight session against the Greenback and ended at 62.46.
On Monday, the rupee gained 16 paise.
The rupee resumed marginally lower at 67.24 per dollar against Wednesday's closing level of 67.21.
Healthy demand for the American unit from importers and corporate weighed on the rupee
Fresh dollar selling by banks and exporters largely helped the home currency to recover from early losses
The rupee had ended 11 paise higher at 62.20 on Tuesday.
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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.
Rupee ends day at 61.91 against the US dollar.
The rupee has lost 37 paise or 0.55 per cent in two days.
The rupee rallied for the second straight session by gaining 21 paise to end at 66.10 against US dollar.
Unwinding of long-dollar positions by speculative traders and the currency's strong underlying fundamentals buoyed the home unit
The rupee has dropped by 83 paise or 1.24 per cent in three days
The rupee had ended 5 paise lower at 67.49 on Monday.
Weakness of dollar in the overseas market also boosted the rupee value.
Month-end dollar demand affected the rupee
The dollar index was trading higher by 0.06 per cent against its major global rivals today.
The rupee had ended almost flat at 61.41 against the Greenback in the previous session on Wednesday on alternate bouts of buying and selling.
Fresh demand for the US currency from importers and banks alongside sustained capital outflows by foreign funds weighed on the local unit
Fag-end selling of dollars by banks and exporters
This is the biggest one-day fall in the rupee since August 3, 2016
The rupee had firmed up 16 paise to close at 67.52 on Thursday.
On Friday, the rupee had gained 9 paise to close at a fresh one-week high of 67.08.
The rupee resumed higher at 61.13 per dollar as against yesterday's closing level of 61.40 at the Interbank Foreign Exchange and strengthened further to 60.90 per dollar before ending at 61.05 per dollar, a gain of 35 paise or 0.57 per cent.
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 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.
A sustained rise in equity market also boosted the rupee sentiment.
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