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.
Increased demand for the dollar from importers put pressure on the rupee.
There was fresh dollar demand from banks and importers.
The rupee on Tuesday gained 14 paise to close at 61.88 against the dollar.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
The rupee recovered by 15 paise at 65.49 against the US dollar.
The domestic currency has gained 9 paise or 0.13 per cent in two days.
Increased demand for the dollar from importers affected the value of the rupee
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
The RBI fixed the reference rate for the dollar at 63.8061 and for the euro at 69.6571.
Weakness of dollar in the global markets and foreign capital outflows also affected the rupee sentiment.
Lower dollar in the overseas market also boosted the rupee value
Consistent capital inflows and a recovery in local equities helped the local unit to trim initial losses
The 30-share BSE Sensex opened positive, but shed some ground to settle the session higher by 250.47 points, or 0.78 per cent, at 32,432.69, its biggest closing since August 2.
The rupee ended weaker against the greenback on domestic worries.
There is high demand for the US currency from importers
After a a steep fall last week, the rupee has closed slightly stronger against the dollar.
The dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up by 0.19 per cent at 95.48.
The Indian rupee resumed sharply lower at 66.65 per dollar against last Friday's level of 66.48.
Rupee gained on increased selling of the US currency by banks and exporters
The dollar index was trading higher by 0.06 per cent against its major global rivals today.
Gold continued its upward trend for the sixth straight day and gained another Rs 190 to Rs 26,190 per ten gram at the bullion market on Thursday.
The rupee has depreciated by about 25 per cent in the past three months, from close to Rs 83 in mid-May, while it was even higher at about Rs 80 against the British Pound in March.
Domestic-focused agricultural chemical (agrochem) companies could face near-term headwinds, given the worries on the El Nio effect on monsoons, higher inventory, and pressure on margins. Some of these were reflected in the October-December quarter (third quarter, or Q3) results of companies and may impact them in the current quarter (fourth quarter, or Q4) as well. Nuvama Research pointed out that the sector witnessed mixed performance during the quarter as global agrochem and domestic fertiliser companies maintained growth momentum, while adverse agronomical conditions and excess channel inventory weighed on domestic market volume offtake.
The rupee slipped 13 paise to 77.67 against the US dollar in early trade on Tuesday, weighed down by the surge in crude oil prices. At the interbank foreign exchange, the rupee opened at 77.65 against the American dollar, then lost ground to quote at 77.67, registering a fall of 13 paise from the last close. On Monday, the rupee settled at 77.54 against the US dollar.
Silver followed suit and gained Rs 65 to Rs 39,600 per kg on increased offtake by industrial units and coin makers.
The rupee briefly touched 66.78 in late afternoon trade due to stray dollar buying by some banks.
The domestic currency had last ended at 64.17 per dollar.
The rupee on Monday plunged to a two-week low of 66.61 by falling 47 paise against the US dollar on heavy demand for the American currency from importers.
The local currency had surged 18 paise to 63.64 in Thursday's trade.
The dollar index was trading lower by 0.03 per cent against its major global rivals today.
Weakness in euro against the dollar weighed on the rupee.
The rupee on Friday snapped its two-day gaining streak against the US dollar.
Lacklustre domestic equities alongside ongoing FCNR redemptions added pressure on the local currency
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Rupee rebounds 26 paise against dollar; snaps 2-day losses
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.
Increased selling of the US dollar by exporters supported the rupee.
Rupee falls 5 paise against dollar, ends at 61.92.
The Indian unit opened sharply higher at 64.80 as against Wednesday's closing level of 65.12.
In Delhi, gold of 99.9 and 99.5 per cent purity fell by Rs 130 each to Rs 30,600 and Rs 30,400 per 10 grams, respectively.
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