The rupee had plunged to an over eight-month low of 71.81 on Thursday amid tumbling equities and incessant foreign fund outflows.
The Indian rupee has extended the morning losses and trading at day's low level at 72.19 per dollar, down 53 paise from Friday's close.
It opened lower by 32 paise at 71.98 per dollar against previous close 71.66.
The rupee spurted 15 paise to close at 71.66 against the US dollar on Friday on hopes that the government will roll back the FPI surcharge and unveil measures to boost growth, said PTI.
The rupee, which had earlier in the day breached the 72-mark for the first time this year, stabilised following an announcement that Finance Minister Nirmala Sitharaman will address a press conference in the evening.
The rupee had plunged to an over eight-month low of 71.81 on Thursday amid tumbling equities and incessant foreign fund outflows, it added.Also Read - Stimulus measures will help Rupee pare losses; Rs 72/$ likely to lend supportGet access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.