The rupee opened at 71.12, then gained momentum and touched a high of 71.05.
At the Interbank Foreign Exchange, rupee opened weak at Rs 71.15 then fell further to 71.16 against the US dollar.
Positive opening in domestic equity market, easing crude oil prices and issues like higher tax surcharge supported the domestic unit.
Rupee is trading at 70.71 against dollar, a day after the RBI cut the key interest rate by 35 basis points.
The domestic currency was trading at 70.91 down 10 paise over its last close.
Rupee is trading at 70.93 against dollar ahead of the outcome of Reserve Bank of India's monetary policy review meet.
Rupee is trading at 70.47 against the US dollar, amid positive opening in domestic equity market.
Rupee was trading down by 77 paise at 70.37 against the US dollar, amid uncertainty over Kashmir Issue.
Rupee is trading at 70.58 against dollar, tracking weak opening in domestic equity market and unabated foreign fund outflows.
Rupee is trading at 69.20 against US dollar amid unabated foreign fund outflows and rising crude oil prices.