The rupee advanced by 14 paise to close at 75.76 (provisional) against the United States dollar on Thursday, tracking strong Asian peers and a fall in global crude oil prices.
However, during the financial year 2021-22, the domestic unit depreciated by 264 paise or 3.61% against the American currency.
At the interbank forex market, the local unit opened at 75.67 against the greenback and witnessed an intra-day high of 75.66 and a low of 75.83.
The rupee finally settled at 75.76, registering a rise of 14 paise over its previous close.
On Wednesday, the rupee dropped 17 paise to close at 75.90 against the U.S. dollar.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, rose 0.40% to 98.18.
Brent crude futures, the global oil benchmark, fell sharply by 5.59% to $107.11 per barrel.
On the domestic equity market front, the BSE Sensex ended 115.48 points or 0.20% lower at 58,568.51, while the broader NSE Nifty fell 33.50 points or 0.19% to 17,464.75.
Foreign institutional investors were net buyers in the capital market on Wednesday as they purchased shares worth ₹1,357.47 crore, according to stock exchange data.
