Staging a mild recovery from a record closing low, the rupee edged up by 8 paise to end at 68.87 against the US currency, largely tracking gains in key Asian units amid weak dollar tone overseas.

Though, the rupee briefly slipped below 69 levels in mid-morning deals but managed to recoup losses on apparent intervention by the Reserve Bank, coupled with greenback selling by exporters.

The Indian rupee hit a record closing low of 68.95 on Thursday following a panic demand for the US dollar coupled with savage capital flight worries.

At the Interbank Foreign Exchange (forex) market, the local currency resumed higher at 68.88 from overnight close of 68.95 on fresh bouts of dollar selling by banks.

It gained further ground to hit a session high of 68.81 before retreating sharply.

After falling to an intra-day low of 69.04, its lowest since June 28, the local unit gradually bounced back towards the fag-end trade to settle at 68.87, revealing a modest gain of 8 paise, or 0.12 per cent.