The rupee pared early losses to settle higher by 10 paise at 87.21 against the US currency on Tuesday as the dollar fell to a four-month low level and crude oil prices also stayed subdued.
A volatile trend in domestic equity markets and foreign capital outflows amid fear of recession in the US and trade-related uncertainties restricted the recovery in the local currency, forex traders said.
At the interbank foreign exchange, the rupee opened lower at 87.37 and touched the day's low of 87.39 against the greenback in early trade. The unit later rebounded up to 87.17 before ending the session at 87.21 against the dollar, 10 paise higher compared to its previous closing level.
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