Falling for the first time in three days, the rupee washed out initial gains to end four paise lower at 62.57 today on caution ahead of US non-farm payrolls data and sustained capital outflows from Indian markets.
Traders said gains in equities and a stronger dollar dented demand for the precious metals too.
The rupee appreciated by 10 paise to close at a nearly six-week high of 60.29 against the US dollar in the previous session tracking a solid rally in local shares and continued dollar selling by exporters and some banks.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Italian soccer club Juventus FC said that it is considering many opportunities in the player market amid media speculation it is in talks to sign Real Madrid striker Cristiano Ronaldo.
Cautious optimism over US-China trade talks after US President Trump said his trade negotiators had received two "very good calls" from Beijing also influenced the local currency, dealers said.
Retail prices of tomato had touched almost Rs 80 per kg in major cities owing to short supply and transportation cost over the past few weeks following heavy downpour.
Prime Minister Narendra Modi on Wednesday left for Brussels for the first leg of his three nation tour of Belgium, United States and Saudi Arabia.
The rupee had gained 6 paise to close at 60.07 against the dollar in Thursday's trade on fresh selling of the American currency by banks and exporters in view of strong capital inflows.
Traders said sentiments remained weak due to fall in demand from jewellers and retailers amidst gold retreating in global markets.
India is the 4th largest oil consumer after the US, China and Japan.
The rupee closed at 60.31/32 on Thursday.
The Congress expressed its 'whole-hearted' support to the 'Bharat bandh' called by farmer unions against the new agri-marketing laws and announced that it will hold protests that day at all district and state headquarters in solidarity with the demands of the farmers. TRS president and Chief Minister K Chandrasekhar Rao said the party rank and file would actively participate in the bandh to ensure it was a success.
The JD(U)-BJP alliance also lambasted the actress for lodging a 'baseless' first information report against the sisters of the deceased actor and questioned the 'support' extended to her by the Uddhav Thackeray government in Maharashtra, for 'reasons the Shiv Sena knows better'.
Bullion traders said subdued demand at current levels and a weak global trend mainly pulled down both gold and silver prices.
New GST rates are between 5-18% on sectoral products
Silver, however, recovered by Rs 250 to Rs 36,000 per kg.
Silver settled at Rs 37,280 per kg after firming up by Rs 230.
Vagela could not have reached this position if Narendra Modi, who'd known him from his chief minister days, had not backed the choice.
The government should set up agricultural co-operatives in every cluster of villages and in respective districts on a war-footing within a time limit. We should involve the services of our military personnel who retire at a young age with several years of working life still left in them and would be happy to contribute to nation-building, recommends Atul Gupta.
The Confederation of All India Traders, the apex body of trade federations and small-scale sector players in the country, upped their campaign on Saturday against the United Progressive Alliance government's proposal to bring in foreign direct investment in multi-brand retail by another notch. The CAIT announced a nationwide campaign, 'Retail FDI bhagao, apne vatan ko bachao' (Chase out FDI in retail, save our nation) in the national capital on Saturday.
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Rupee ends flat after hitting 9-1/2 month low.
Even the US, whose dominance over global commerce since World War II is being challenged for the first time, is striving to expand its bilateral commerce with China.
The rupee had dipped by a massive 67 paise to an all-time closing low of 61.10 against the dollar on Friday.
Silver also slipped below the Rs 41,000-mark by falling Rs 525 to Rs 40,975 per kg on reduced offtake by industrial units and coin makers
Bullion traders said besides ongoing wedding season demand, a firm global trend as the weakening in dollar revived the appeal of the metal as an alternative investment, mainly boosted the sentiment.
After completing four days of gains, gold prices spurted here by Rs 400 today to regain the psychological level of Rs 28,000 per ten grams on sustained seasonal buying amid a firming global trend.
Traders say the rupee and other global currencies will likely track the continued uncertainty in the US budget stalemate and government shutdown.
Gold prices maintained its upward journey for the second day with a gain of another Rs 180 to Rs 27,300 per 10 gm on Monday.
Traders said persistent selling by stockists in line with a weakening global trend after Federal Reserve Chairman Ben Bernanke signalled that the central bank may start curbing stimulus programme this year, mainly dragged gold and silver prices down.
Both the precious metals, gold and silver, on Monday rebounded in the national capital on emergence of buying at existing lower levels amid a firm trend in the Asian region.
Over 100 tax sleuths along with police officials have been roped in for the survey operations
He was found with over 20,000 illicit DVDs and CDs.
Traders said good dollar demand from importers including oil companies was seen at stronger rupee levels, limiting any further gains.
The dollar index was up by 0.10 per cent against a basket of six major global rivals, ahead of a slew of data that could offer more evidence on whether an economic recovery is under way in the US.
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Sentiments turned buoyant after RBI on Monday cut the marginal standing facility rate, at which it lends emergency funds to banks, by 0.5 per cent to 9 per cent with an aim to improve liquidity and boost economic activities.
After his previous visit, the Sensex crashed and it took four painful years to top the 21,000 mark.
Forex dealers said strength in euro against the US dollar overseas and increased capital inflows supported the rupee.
Meanwhile, retail jewellery sales in India have declined by 50 per cent since gold price started its uptrend nearly two weeks. Buyers deferred their fresh purchase amid expectations of a correction in gold prices from the current high level.
RBI steps up interventions to prevent rupee gains.
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