The rupee rebounded from the six-month low and appreciated by 55 paise to 70.85 against the US dollar in early trade on Wednesday amid positive opening in domestic equity market and easing crude oil prices.

The rupee declined by 9 paise to close at 70.78 against the dollar on Friday as market participants were cautious ahead of a meeting between foreign investors and finance ministry officials regarding the higher tax surcharge.

The International Energy Agency says the US-China trade war and a decline in world economic growth are weakening the demand for oil.

The BSE Sensex slumped 286 points on Wednesday after the RBI slashed the benchmark lending rate but also lowered the growth estimate for the current financial year, underscoring risks to economic revival amid multiple headwinds.

Berger Paints share price rallied as much as 5.36 per cent to touch 52-week high of Rs 351.55 apiece on the BSE after making a positive start at Rs 336.50