The Indian rupee pared most of its early losses to settle 5 paise lower at 95.57 (provisional) against the US dollar on Friday, marking its fifth consecutive session of decline.
Forex traders said the currency remained under pressure amid risk aversion in global markets and elevated crude oil prices. However, a correction in crude prices and suspected intervention by the Reserve Bank of India (RBI) helped limit the rupee's losses.
The rupee opened on a weak note but recovered some ground following suspected RBI intervention, a partial rebound in domestic equities from the day's lows and profit booking in crude oil at higher levels, traders said.