Moving in line with the equity market, the rupee failed to maintain its earlier gains, although it was still quoting 8 paise stronger against the dollar.
The American currency saw selling from banks amid its losing some ground in the overseas market.
The rupee resumed higher at 52.75 a dollar as against the last closing level of 52.87 at the Interbank Foreign Exchange (Forex). It moved up further to 52.65 per dollar before quoting at 52.79 at 1040 hrs.
In New York, the euro gained against the dollar and other major currencies yesterday following reports that Spain was considering applying for a credit line from the European Union's bailout fund.
Meanwhile, the BSE 30-stock index, Sensex, opened higher at 18,667.72 but declined thereafter. It moved between 18,705.19 and 18,577.75 before quoting at 18,614.54 at 1050 hrs, up 36.84 points of 0.20%.
