The Indian rupee experienced fluctuations against the US dollar, initially recovering from a record low with a rise of 29 paise to 83.61 in early trade, before closing provisionally up by 32 paise at 83.29. The recovery is attributed to likely intervention by the Reserve Bank of India (RBI), which also aims to limit sharp swings in the currency. Following days, the rupee fell 5 paise to 83.34 and then 8 paise to close at 83.37 against the US dollar. The rupee's movements come amid a backdrop of a weaker yuan impacting Asian FX markets and concerns over foreign investor selloffs in Indian bonds, marking the biggest exit in a year. The RBI is also reported to be keen on building up its record high foreign exchange reserves.