The dollar index surged to multi-year high.
The rupee ended steady against the American currency at 66.19 per dollar at the Interbank Foreign Exchange here today in view of steady dollar in the overseas market.
The rupee closed almost flat at 65.76 against the US dollar on some demand for the American currency from banks.
Rupee is under pressure against the dollar on weak cues.
The greenback's strength against other Asian currencies and lacklustre local equity markets made the rupee depreciate.
The domestic currency had gained seven paise on Friday.
The rupee touched a high and low of 65.91 agaisnt the greenback during the day.
The rupee had depreciated by 13 paise to end at 67.20.
The dollar index eased 0.05 per cent to 98.69.
The rupee is seen weakening against dollar in current week.
The dollar was firm against some global currencies which also weighed on the rupee.
Forex dealers attributed the fall to increased demand for the dollar.
Monday's morning trade sees increased selling of USD by exporters.
Reserve Bank Governor Shaktikanta Das on Friday said 67 per cent of the decline in the foreign exchange reserves since April was due to valuation changes arising from strengthening US dollar and higher American bond yields. The forex reserves, which stood at $606.475 billion as on April 2, have declined to $537.5 billion as on September 23. It was also the eighth straight week when the reserves declined.
The rupee on Thursday plummeted to an over three-month low of 63.32 by losing 50 paise against the US dollar.
The rupee firmed up by 15 paise to close at 62.36 per dollar on fresh selling by banks
It hovered in a range of 63.57 and 63.70.
Dealers attributed the fall to the dollar's gains after China devalued yuan, which pushed up demand from importers for the US currency.
Bearish greenback overseas and robust capital inflows predominantly supported the domestic currency
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
The rupee had risen for the fifth straight session on Thursday.
On Tuesday, the rupee had declined marginally by 3 paise to 66.03.
The rupee bounced back by 10 paise to end at 68.62 on Friday.
This is rupee's lowest since 62.32 on January 9.
The Indian rupee tumbled in line with its Asian peers due to persistent risk-off sentiment on the back of broad dollar strength.
The rupee had gained 16 paise to close at over one-month high of 62.16 on Monday against the American currency on persistent selling of dollars by banks and exporters on hopes of capital inflows into domestic markets.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
In cross-currency trades, the rupee firmed up further against the pound sterling
The rupee edged higher by three paise to 66.46 against the US dollar in early trade on Wednesday.
The rupee on Monday continued its upward march against the US dollar for the third day, firming up by another 10 paise to 66.00 on fag-end selling of the American currency by banks and exporters.
India is one of the few countries in the region that enjoys good relations with both Israel and Saudi Arabia, and IMEC would allow it to recreate the old Spice Route to Europe. All this is in jeopardy now, notes Rajeev Srinivasan.
However, foreign capital inflows into equity market restricted the rupee's fall to some extent.
Strong recovery in the equity market boosted the rupee value against the dollar.
Healthy demand for the American unit from importers and corporate weighed on the rupee
The domestic currency had lost 15 paise to close at 63.82 on Wednesday.
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The local currency opened at 62.20 a dollar from the previous close of 61.93 and immediately touched a low of 62.29 at the interbank foreign exchange market.
The rupee appreciated by 37 paise to 62.12 against the dollar in early trade on Monday.
The rupee on Monday tumbled by 68 paise to close at a nearly 8-week low of 66.44 against the American currency.
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Rupee hits more than two-year low; RBI intervenes
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