The rise in the rupee was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas, traders said.
The Sensex fell below the 35,000-level to touch a low of 34,811.60 due to heavy selling pressure in view of foreign capital outflows and weak global cues.
Discussing RBI Governor Urjit Patel's remarks that the domestic currency is still better than its emerging market peers, SJM co-convenor Ashwini Mahajan said the RBI needs to play its role more actively.
The rupee had opened lower by 14 paisa against Friday's close of 73.76 in early trade as the US dollar strength against major global currencies weighed on the rupee sentiment.
