Meanwhile, foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 2,477 crore on a net basis Tuesday, as per provisional data.
In line with equities, the forex market sentiment has also been boosted by sustained fund inflows by foreign institutional investors (FIIs) in the last few sessions.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,095.06 crore on Friday, as per provisional data.
Fresh foreign fund inflows, easing crude prices supported the rupee and restricted the fall.
The rupee Wednesday had strengthened by 21 paise to close at 70.28 against the US dollar.
Brent crude futures, the global oil benchmark, eased 0.76 per cent to USD 65.36 per barrel.
The domestic forex market and equity market were closed Monday on account of Mahashivratri.
The rupee had closed 7 paise lower against the greenback Friday at 71.23.
The rupee opened weak at 70.91 and fell further to 71.05, but recovered partially to trade at 70.94, still down by 14 paise against the dollar.
Industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector.
The benchmark BSE Sensex rose 22.20 points, or 0.06 per cent, to 36,417.23 in early session Tuesday.
According to provisional exchange data, FPIs bought shares worth a net Rs 843.73 crore on net basis on Friday.
On Wednesday, the rupee had settled 1 paise higher at 71.56 against the US dollar.
On Tuesday, the rupee had settled 1 paise lower at 71.11 against the US dollar.
Brent crude, the global benchmark, was trading lower at per 61.36 barrel lower by 0.45 per cent.
The rupee on Friday weakened by 10 paise to close at 71.17 against the US dollar amid increasing demand for the greenback from exporters and heavy selling in domestic equities.
On Wednesday, the rupee had settled higher by 11 paise at 71.33 against the US dollar.
On Tuesday, the rupee had skidded by 16 paise -- its third straight session of loss -- to close at 71.44 against the US dollar amid strengthening of the greenback and heavy selling in domestic equities.
On Monday, the rupee had ended lower by 9 paise at 71.28 against the US currency.
Brent crude, the international oil benchmark, was trading 0.46 per cent higher at USD 62.99 per dollar, its two-month high.
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