The rupee bounced back in style after a brief overnight crash and ended higher by 16 paise at 63.88 against US currency on bouts of dollar selling by exporters and banks.
The currency market witnessed volatility with the rupee plummeting to end at a fresh two-week low of 64.04 against the US dollar.
The rupee strengthened further by 14 paise to end at a fresh one-week high of 63.49 against the US currency on sustained dollar selling by exporters.
Asian shares hit historic highs, dollar retreat continued as investors priced in the risk of tighter policies elsewhere in the developed world.
Gold prices hit their highest since September, buoyed by a weaker U.S. dollar, which slumped to three-year lows against a basket of currencies.
The home currency retreated sharply from a fresh three-year high and ended lower by 26 paise at 63.63, capping a spectacular two-week upsurge.
After plunging to a fresh low of 63.72 in late afternoon, it managed to regain some lost ground and settled marginally higher at 63.63, a gain of 3 paise.
Infosys, India's second largest IT exporter reported 38.3 percent growth in consolidated net profit to Rs 5,129 crore for the October- December quarter of 2017-18 year.
The rupee once again turned shaky against the US dollar and settled lower by 6 paise to 63.66 on fresh bouts of demand for the American currency.
The rupee slid further by 22 paise to hit a low of 63.82 against the greenback in late morning deals on continued bouts of dollar demand amid flat equities.
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