At the Interbank Foreign Exchange (Forex) market, the local currency resumed lower at 59.40 as against the last closing level of 59.38 and dropped further to 59.48 a dollar.
However, it recovered later to 59.20 per dollar on fag-end selling of dollars by banks and exporters before settling at 59.33 -- a gain of five paise or 0.08 per cent. It hovered in a range of 59.20-59.48 during the day.
Pramit Brahmbhatt, Veracity Group CEO: "Dollar demand from importers forced rupee to trade low initially. However, it recovered at the end. Investors are being watchful ahead of US job data due later today," Veracity Group CEO Pramit Brahmbhatt said.
The dollar index, consisting of six major global units, was up by 0.05 per cent.
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In London, the dollar was bobbing near a 3-1/2 month high and shares dipped for a second day today, as the recent jump in US borrowing costs weighed on markets before what is set to be an action-packed ECB meeting.
Meanwhile, the BSE benchmark Sensex moved down by 52.76 points, or 0.21 per cent, to 24,805.83.