The rupee rebounded from early lows to close marginally up at 70.97 against the US currency helped by a record-breaking run in equity markets and weak crude oil prices.
A stronger dollar in overseas markets after positive macro data weighed on the rupee sentiment, forex traders said.
At the interbank foreign exchange market, the rupee opened weak at 71.08 then fell further to 71.12 against the US dollar, showing a decline of 14 paise over its previous closing.
Stock markets extending the record-breaking run for the second day and weaker crude oil price helped the rupee restrict losses later.
The domestic unit closed at 70.97 to the US dollar, marginally up by 1 paise over the previous close.
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