The rupee is down over 13% against the dollar so far this year The rupee registered its strongest single-day gain in five years on Friday, amid a plunge in crude oil prices and a spike in equity markets.
The rupee strengthened by 101 paise against the greenback to settle at 72.44 for the day, marking its strongest single-day gain since September 2013.
Selling of dollars by exports along with weakness in the American currency against a group of major peers supported the rupee in the forex market.
Sharp advances in the domestic markets - with the benchmark indices climbing to their highest levels in more than two weeks - also boosted the rupee.
Despite rising 2 per cent in two consecutive sessions, the rupee is down more than 13 per cent against the dollar so far this year.