For the full year, the rupee could average 64.3 in 2017 -18 and 65.4 in 2018-19: UBS
Brent crude, an international benchmark, was trading near a four-year peak of $71.50 a barrel in early Asian trade
On the energy front, crude prices dropped, hit by rising supplies in the US and expectations that producer group OPEC could relax voluntary output cuts
The Indian rupee closed at 68.63 a dollar, about 0.29 per cent away from its record low closing of 68.83 a dollar reached on 28 August 2013
The rupee hit 74 on the dollar on Wednesday after TV channels reported RBI Governor Urjit Patel may resign due to the spat with the govt
The country's foreign-exchange reserves plunged $5.14 bn in the week ended October 12, the biggest drop in seven years
The rupee is highly correlated with oil prices, which are definitely moving higher, and that's going to make the current-account situation more difficult
Rising fuel costs may fan consumer prices and force the inflation-targeting RBI to add to its two interest rates hikes this year -- a decision that can be both unpopular as well as affect growth
Rupee on Monday slumped to a record low of 72.67 a dollar in intra-day trade before closing at 72.45, showing a steep 72 paise fall on growing fears of contagion from an emerging-market rout
Impact of the rupee's weakening will be diverse and will also depend on issues such as a particular company's reliance on exports, its cost base, and its exposure to pricing on international markets
The RBI and India's government, at present, are calm, which is a strong posture that must withstand the daily news, media pressure, lobbying and political taunting
FPI inflows have also resumed and should put an end to the $24.6 billion intervention by RBI
They also remain optimistic on the road ahead for the IT sector given the sharp fall in rupee's value against the US dollar.
The domestic unit on Wednesday gained 27 paise to settle at 72.12 in line with a recovery in domestic equities.
The domestic unit on Thursday gained 28 paise to settle at 71.84 as investor sentiment revived after China and the United States said they will resume trade talks.
The domestic unit continued its winning momentum for a third session in a row on Friday, rising 12 paise to settle at 71.72.
The domestic unit on Friday appreciated by 38 paise to close at a two-week high of 71.42 on Friday led by a rally in domestic equities and renewed hopes of the US-China trade talks.
The domestic unit on Tuesday spurted by 54 paise, its biggest single-day gain in more than five months, to close at a one-week high of 71.48.
The currency settled at 72.02 to the US dollar, the lowest closing level since November 14, 2018, even as equities spurted more than 700 points at close on stimulus measures.
On Wednesday, the domestic currency rebounded from a six-month low to end at 71.27, up 13 paise.