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The rupee rebounded to 66.67 as the benchmark BSE Sensex rallied over 256 points to end at a near 3-month high of 34,969.70.
However, month-end dollar demand and the dollar's strength against other currencies restricted the rupee's gains.
The rupee opened weak by 8 paise to 66.83 due to month-end demand for the US currency from importers amid sustained foreign capital outflows.
It hovered in a range of 66.84 and 66.67 before quoting at 66.71, up 4 paise at 4.40 pm local time.
Yesterday, the rupee had closed 15 paise higher at 66.75 against the US dollar on dollar selling by exporters.
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