The rupee opened higher at 73.33 amid sharp gains in local stock markets
The country's reserve position with the IMF also declined by $12.3 mn to $2.495 bn
Following market mayhem and rupee plunge after the Fed 'taper tantrum' in summer of 2013, RBI had mobilised $25 bn from NRIs
Forex dealers said softening crude oil prices supported the rupee's upward movement
Unabated capital outflows by foreign funds and heavy selling in domestic equities dampened the sentiment
This is much higher than the over Rs 210 billion net outflow seen in entire September
The rupee and Indonesia's rupiah are the worst currencies in Asia this year, weighed by concerns over fiscal deficits and inflation
Gold reserves rose by $71.4 million to $20.522 billion in the reporting week, the data showed
Dealers said the Reserve Bank of India's steps to ease liquidity concerns of NBFCs also helped the domestic currency
A spurt in dollar demand from importers amid sustained foreign fund outflows also weighed on the rupee
The Indian rupee also came under pressure following a heaving selling in domestic equities
Forex dealers said weakness in the dollar against some currencies overseas and a higher opening of domestic equity markets gave some support to the rupee
The value of holdings of FPIs and MFs dropped 9.4% and 8.3%, respectively, during the September quarter
At the Interbank Foreign Exchange, the domestic currency opened higher at 73.79 but lost ground and fell to 73.92
The Indian rupee has been on a downhill slide for most of the year, falling for six straight months, the longest stretch since 2002.
In the reporting week, foreign currency assets, a major component of the overall reserves, decreased by $ 1.011 billion to $ 375.231 billion, as per the RBI data.
Forex dealers said bullish trend in the equity market as well as easing crude oil prices also supported the rupee's upward movement
Forex dealers said a higher opening in the equity market also supported the rupee's sentiment
World Bank official said it is a bit early to say how it will have an impact on India's economy.
The domestic currency snapped its six-session losing streak to end 18 paise higher at 74.21 on Wednesday after the American currency weakened overseas.