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The indices slumped sharply after the US central bank, while keeping its interest rate steady in the September meeting, hinted that it may again hike rates going ahead if need be, in its fight against inflation.
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Foreign fund outflows and losses in local equities, however, restricted the rupee's gains, forex dealers said.
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As per the data, reserve assets accounted for 64.2 per cent of India's international financial assets at the end of the June quarter.
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The rupee opened flat at 83.22 against the US dollar and later moved in a range of 83.25 to 83.20 in morning deals. It was trading at 83.21 to US dollar at 9.35 am, up by 1 paisa over the previous close.
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Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.05 per cent to 106.28.
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Weak sentiment in the global equity markets and surging crude oil prices also weighed on the Indian currency, forex traders said.
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Besides, weak equity market sentiment and elevated levels of crude oil prices -- hovering above USD 92 a barrel -- weighed on the domestic currency, forex traders said
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The rupee continued its downward movement for the second straight day and fell by 8 paise to 83.21 against the US dollar
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The rupee depreciated by 16 paise to 83.10 against the US dollar in early trade on Monday
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The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment
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The rupee was also impacted by a rising dollar index, following hawkish comments from US Federal Reserve officials, forex traders said
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Market participants are in a wait-and-watch mode ahead of the Bank of England and Bank of Japan policy decision, he said.
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"The Indian rupee faced pressure due to an advancing dollar index, driven by hawkish remarks from Federal Reserve officials, according to forex traders."
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Halting its four-session losing streak at the interbank foreign exchange, the domestic unit opened strong at 83.22 against the dollar and traded in the range of 83.27-83.06 against the greenback
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However, a sell-off in the domestic equity markets and a strong American currency against major rivals overseas restricted the rupee's rise, traders said.
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Besides, a strong American currency against key rivals overseas and a negative trend in domestic equities weighed on investor sentiments
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The rupee witnessed range-bound trading against the US dollar in early trade on Friday
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The rupee appreciated 8 paise to 82.93 against the US dollar in early trade on Thursday tracking positive domestic equities
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The rupee appreciated by 10 paise to 82.93 against the US dollar in early trade on Tuesday tracking a positive trend
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A weak American currency against major rivals overseas, however, supported the domestic unit and restricted the fall
