Lower dollar in the overseas market also boosted the rupee value
The rupee weakened even as the dollar fell against major global currencies
Monday's morning trade sees increased selling of USD by exporters.
Foreign capital inflows also boosted the rupee value against the dollar
The rupee had lost three paise to hit two-month closing low of 66.80.
The rupee had dropped 15 paise or 0.22 per cent yesterday.
With the rupee crossing Rs 72/dollar in recent times, things suddenly don't look too good on several counts.
The Indian unit opened higher at 66.10 per dollar as against overnight level of 66.30 at the Interbank Foreign Exchange market and firmed up further to 66.04 on initial dollar selling.
In cross-currency trades, the rupee firmed up further against the pound sterling
The US dollar jumped in overseas market on Wednesday.
Weakness of dollar in the global markets and foreign capital outflows also affected the rupee sentiment.
Ending a four-day upmove, the rupee on Tuesday retreated four paise from its 11-month high levels to close at 58.63 against the dollar on fresh demand for the US currency from importers, amid some profit-booking in stocks.
'It is like a chicken-and-egg situation.' 'All these product tweaks are innovative, but traders won't move unless there is liquidity.' 'And liquidity cannot be generated until traders move.'
Sharp fall in domestic stock market also affected the rupee sentiment.
The rupee recovered by 15 paise at 65.49 against the US dollar.
Dollar's weakness against other currencies in the global market made the local unit stronger.
The rupee on Tuesday recovered from its two-week low to end steady at 66.60 against the American currency, inching up by a paisa on the back of mild dollar selling.
'With our focus and strategy we can solve at least 20 per cent per cent of India's education problems.'
On Monday, the rupee had moved up by 3 paise.
Going by the real effective exchange rate, the rupee is overvalued
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
The rupee had jumped by 164 paise or 2.39 per cent in previous six trading days.
In the last 3 months, rupee has depreciated 16% against dollar.
The rupee had firmed up by 28 paise to close at 3-week high of 66.97 in Monday's trade.
The rupee had ended 5 paise lower at 67.49 on Monday.
The recovery in equities in the early session capped the rupee's fall.
The facility will be open till November 30.
The rupee had slumped to its all-time closing low of 68.80 a dollar on August 28, 2013.
The RBI fixed the reference rate for the dollar at 65.2525 and for the euro at 72.1954.
The rupee has lost 32 paise, or 0.50 per cent, in five trading days
Increased demand for the dollar from importers affected the value of the rupee
Firm equity market failed to restrict the rupee's fall against the dollar
The domestic currency tumbled by 45 paise or 0.68 per cent in two days.
On Tuesday, the rupee closed lower by 13 paise at 67.27.
The rupee on Friday fell by 9 paise to 67.64 per dollar on fresh demand for the American currency.
The rupee strengthened by 14 paise to close at 66.41 against the US dollar on Wednesday.
The domestic currency has dropped 40 paise or 0.60 per cent in two days
Weakness in dollar in the overseas market also boosted the rupee value
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
The dollar index was up by a whopping 0.45 per cent against basket of six major global rivals, which also pushed the rupee to log its biggest daily loss since September 15.
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