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.
US dollar was firm against global currencies in overseas markets on rising prospects for a rate hike by US Federal Bank, which hit the rupee sentiment
Rupee has gained by 15 paise or 0.24 per cent in two days.
Falling for the first time in three days, the rupee today erased initial gains to end 15 paise lower at 62.43 against dollar on fag-end demand of the US currency from banks and importers, amid a tepid stock market.
Rupee down 13 paise to 66.72 against dollar
Weakness of dollar in the overseas market also boosted the rupee value.
Falling for the second day, the rupee on Friday weakened by 12 paise against dollar to end at 62.68 weighed down by demand for the American currency from importers and data showing fiscal deficit crossed 95 per cent of the annual target during April-December.
Forex dealers said weakness in local equities cast a shadow on the rupee. Dollar losing in overseas markets didn't impact the fall of the local currency, they added.
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The rupee bounced back from a one-month low to post its first gain in the New Year, rising 10 paise to close at 62.16 against the dollar after the RBI was said to have sold the US currency.
Fag-end selling of dollars by banks and exporters
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
The rupee fell to more than one-month low of 65.75 against the US dollar on Thursday.
The rupee had firmed up 16 paise to close at 67.52 on Thursday.
Bucking a strong trend in share market, the Indian rupee on Monday gave up all its initial gains and slipped 18 paise to close at 61.94 against the Greenback on rising dollar demand from importers.
The American currency regained its buoyant strength after a brief sideways movement following overnight US Fed's optimistic tone about the future of the US economy
The demand for the US currency from importers outweighed capital inflows and firm local equities.
The trading range for the Spot USD/INR pair is expected to be within 66.20 to 67.00.
The Indian currency had appreciated by a whopping 85 paise in three-day surge
The rupee showed range-bound movement on Wednesday as investors preferred to stay cautious in the unsure market.
In forward market, premium for dollar declined in view of mild receivings from exporters.
The rupee continued to slide against the pound sterling and finished at 102.64 as against 102.25 previously.
Extending its losing streak for the fourth straight day, the rupee weakened by five paise to 61.01 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
The domestic unit moved in a range of 64.14 and 63.99.
Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
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Fag-end dollar selling by exporters helped the rupee to recover lost ground and settle at the day's high of 60.77, a gain of 11 paise. The rupee earlier touched an intra-day low of 61.21 on July 8.
Rupee is under pressure against the dollar say currency watchers.
The steep fall in rupee came on a day when the Reserve Bank of India in its first quarter review of monetary policy kept the all key rates unchanged but cut the gross domestic growth forecast to 5.5 per cent for FY'14 from 5.7 per cent earlier.
After another day of volatile trade, the rupee today appreciated by seven paise to close at a new one-month high of 59.04 against the dollar as the RBI's liquidity-tightening measures continued to lend support.
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Snapping a two-day fall, the rupee opened strong at 59.49 a dollar from the previous close of 59.76 at the Interbank Foreign Exchange Market and then touched a low of 59.59.
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
Lacklustre domestic equities alongside ongoing FCNR redemptions added pressure on the local currency
In worldwide trade, the American dollar traded with solid strength against all major emerging currencies
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
Forex dealers said besides dollar's gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
The rupee had jumped by 164 paise or 2.39 per cent in previous six trading days.
A sustained rise in equity market also boosted the rupee sentiment.
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A weak rupee makes imports costlier, including oil and other commodities.
Sharp fall in domestic stock market also affected the rupee sentiment.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
