Snapping its three-day losing streak, rupee gained 45 paise on Friday to close at 67.78 against the dollar on fresh selling of the American currency by exporters.
Besides, higher domestic equity markets also supported the rupee, forex dealers said.
The broad market indicator, Sensex, ended the day higher at 24,870.69, up 1.64 per cent.
The rupee had lost 18 paise to close at a fresh 29-month low of 68.23 in Thursday's trade on persistent dollar demand from banks and importers.
Aggressive selling by the foreign Institutional investors in the Indian equity market has put pressure on the Indian currency. FIIs have pulled out close to Rs 11,000 crore from the Indian equity markets in January so far.
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