The rupee is down more than 14% so far this year The rupee moved higher by 12 paise against the dollar to close at 73 on Tuesday.
Selling of the dollar by exporters along with easing of crude oil prices helped the rupee gain some ground.
The rupee rose as much as 14 paise against the dollar during the session, to touch an intraday high of 72.98, before giving up some of those gains by the end of the day.
The rupee has depreciated more than 14 per cent against the greenback so far this year.