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The rupee resumed lower at 67.43 as against Thursday's closing level of 67.36 at the Inter-bank Foreign Exchange (forex) market and slid further to 67.50 on initial dollar demand from importers.

Stating that it would be extremely difficult for the Congress to take a contrarian view, he said if there is no consensus, the only alternative is a parliamentary vote.

Persistent foreign capital inflows also boosted the rupee value against the dollar to some extent, a forex dealer said.

"Fitch has maintained its GDP growth forecast for India for the fiscal year ending March 2016 at 7.5 per cent. Growth is expected to gradually accelerate to 7.7 per cent in FY17 and 7.9 per cent in FY18," Fitch Ratings said.

"I think India's currency is finding its own level. I don't see a very serious challenge," Jaitley said.

The rupee resumed higher at 66.52 per dollar against the previous closing level of 66.66 per dollar at the Interbank Foreign Exchange (Forex) market and hovered in a range of 66.72 and 66.41 in day trade.

In overseas market, the dollar was on the defensive early, nursing deep losses against the euro and yen after Friday's firm US jobs report failed to shift a broadly held view that the Federal Reserve will remain cautious on raising interest rates in 2016.

Tata Steel deciding to sell of its UK business is yet another sign of the still competition steel companies are facing globally from Chinese firms.

"Weak external demand and excess capacity in some sectors, on top of a shrinking labour force and rising wages, continue to induce a gradual decline in China's growth rate," Shang-Jin Wei, ADB's chief economist, said.

Jaitley, however, parried a question on whether Rajan will get a second stint at RBI after he completes the term on September 3, saying "it is not proper to comment on it".

Jaitley also said Mallya cannot be ignorant about what happens to banks because of his default as there are other heavily-indebted companies which are settling their dues by selling their assets, but not Mallya.

The dollar was edging higher in the global market in the afternoon session following last week's loss of more than 1 per cent against key rivals.

The dollar was lower against the yen in late Asian trade, following the Bank of Japan's widely expected decision to stand pat after its two-day policy meeting.

The NSE Nifty ended 28.55 points or 0.38 per cent higher at 7,538.75 after moving in a range of 7,583.70 to 7,515.05.