The rupee pared initial losses and showed a slight recovery of 5 paise trading at 88.63 against the US dollar in early trade on Friday on the back of lower crude oil prices overseas and foreign capital infusion in domestic stocks.

The Enforcement Directorate (ED) has attached fresh assets worth crores of rupees as part of a money laundering probe related to Reliance Group chairman Anil Ambani and his companies, official sources said.

Equity benchmark indices Sensex and Nifty were trading higher in early trade on Thursday, mirroring a rally in global equity markets with fresh foreign fund inflows also adding to the optimistic trend.

The rupee depreciated by 18 paise to 88.66 against the US dollar on Thursday, as the US dollar's recovery capped the domestic unit's upside.

The rupee appreciated 12 paise to close at 88.48 against the US dollar on Wednesday, supported by a positive trend in domestic equity markets and lower international crude prices.

The rupee gained 9 paise to 88.51 against the US dollar in early trade on Wednesday, supported by lower crude oil prices even as volatile equity markets across the globe weighed on investor sentiment.

 Equity benchmark indices Sensex and Nifty declined in initial trade on Wednesday, tracking weak global market trends and fresh foreign fund outflows.

Benchmark indices Sensex and Nifty declined in early trade on Tuesday due to emergence of profit-taking in-tandem with a weak trend in global equity markets.