The rupee fell sharply by 32 paise at 66.37 against the US dollar in early trade on Tuesday.
Increased demand for the dollar from importers put pressure on the rupee.
The rupee on Tuesday lost another 15 paise against the US dollar to close at 65.88
The rupee extended its fall for the fourth consecutive day by losing another 6 paise to hit a fresh one-month low of 62.31.
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
There was fresh dollar demand from banks and importers.
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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 had gained two paise to close at one-month high of 62.14 against the dollar in Tuesday's trade.
The rupee bounced back by 10 paise to end at 68.62 on Friday.
The US dollar index, which measures greenback's strength against a trade-weighted basket of six major currencies, was up 0.14 per cent at 96.74.
The currency lost six paise on sustained dollar demand from importers.
At the Interbank Foreign Exchange market, the domestic unit commenced higher at 61.80 a dollar from previous close of 61.92.
The rupee on Tuesday gained 14 paise to close at 61.88 against the dollar.
Rupee is under pressure against the dollar on weak cues.
Rupee is likely to remain under pressure due to domestic concerns.
The markets had touched their highest levels in a month.
The dollar index eased 0.05 per cent to 98.69.
The rupee has declined by 24 paise in four days of losses.
The rupee edged higher by three paise to 66.46 against the US dollar in early trade on Wednesday.
The rupee closes 12 paise down against the dollar.
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.
The rupee on Tuesday fell by 25 paise to 65.05 on fresh dollar demand from banks and importers despite persistent foreign capital inflows.
Forex dealers attributed the fall to increased demand for the dollar.
Weakness of dollar in the overseas market also boosted the domestic currency, a forex dealer said.
The rupee had lost 21 paise on Tuesday's trade.
Extending losses for the second straight session, the rupee slipped by 11 paise at 66.54 against the US dollar.
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Chidambaram further said government has taken a number of fiscal and administrative measures from time to time to contain inflation especially food.
There is high demand for the US currency from importers
Firm equity markets and foreign capital inflows failed to restrict rupee's fall against the dollar
The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was sharply higher by 0.62 per cent at 93.96.
The rupee had jumped by 16 paise to end at over two-month high of 61.71 against the greenback on good inflows in local markets and sustained dollar sales by exporters.
The rupee recovered from initial losses against the American currency and was quoted higher by 6 paise to 62.00 on fresh selling of dollars by banks and exporters in view of strong foreign capital inflows into equity market.
The domestic currency has tumbled by 104 paise, or 1.63 per cent, in last six trading days.
Dealers attributed the fall to the dollar's gains after China devalued yuan, which pushed up demand from importers for the US currency.
The rupee had plunged by 19 paise to close at over 3-week low.
Forex traders said a stronger dollar also dragged the rupee down.
Increased demand for the dollar weighed on the local currency.
Bearish dollar overseas also supported the rupee
The Indian benchmark S&P BSE Sensex today eased by 14.59 points, or 0.05 per cent after touching its all-time intra-day peak.
Forex dealers said besides the dollar gaining against other currencies in the global markets on the back of a strong US economy, increased demand for the American unit from importers weighed on the rupee but a higher opening in the domestic equity markets, capped the fall.
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