The Indian rupee continued its upward march for the fifth trading day against the American currency, gaining two paise to end at one-month high levels of 62.14 on Tuesday.

The rupee resumed higher at 62.10 per dollar as against Monday's closing level of 62.16 per dollar at the Interbank Foreign Exchange Market and firmed up further to 62.0225 per dollar on selling of dollars by banks.

However, it trimmed its gains to finish at 62.14 per dollar on fag-end dollar demand from banks on the back of higher dollar in the overseas market -- showing a gain of two paise or 0.03 per cent.

The domstic currency last traded at 62.02 on December 10, 2014.

The rupee has gained by 143 paise, or 2.25 per cent, in five trading sessions.

In the global market, the euro fell towards a nine-year low versus the dollar as reports said officials fueled speculation the European Central Bank will begin buying government bonds as early as next week to stave off deflation.

The dollar index was up by 0.14 per cent against a basket of six major global rivals on hopes of rise in interest rates.