The Indian rupee logged its biggest weekly rise against the dollar in seven months, lifted by the central bank's heavy intervention in the foreign exchange market and kept speculators betting against the currency at bay.

The USD/INR exchange rate has retreated this week, helped by the ongoing interventions by the Reserve Bank of India (RBI). It also retreated after Narendra Modi met with Donald Trump at the White House.

The local currency gained almost 1 percent and closed at 86.8300 against the US dollar on February 11, as compared to 87.48 against the greenback close on the previous trading session.

The Indian rupee rose sharply on Tuesday, aided by the central bank's heavy-handed intervention, which also triggered stop losses for speculators betting against the currency.