Reuters Market Eye - The rupee gained to 61.37/3775 from a session low of 61.55, the highest since March 14.
The pair had closed at 61.4950/5050 on Wednesday.
Traders cited modest RBI intervention to defend the rupee via state-run lenders.
That marks a changed stance from not long ago when the RBI was buying dollars.
Dealers said foreign custodian banks buying dollars for offshore clients trimming exposure to India.
The Nifty was up 0.42 percent on value buying.
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(Reporting by Gaurav Pai)