Tracking a steep fall in local share market, the Indian rupee on Tuesday washed out initial gains and ended with a loss of 16 paise
The Indian rupee on Monday reacted downwards by 12 paise to log nearly one-week closing low of 63.41 against the Greenback.
The rupee opened steady at 63.30 per dollar at the Interbank Foreign Exchange; but, firmed up to 63.22 before quoting at 63.23 per dollar at 1000 hours.
After three sessions of weakness, the rupee strengthened by 50 paise against the dollar.
Rupee fell to its 9-month low of 62.03 against the dollar.
The rupee had shed one paise to end at one-month low of 61.74 against the US dollar in Tuesday's trade.
A strong dollar overseas and some hesitancy in local stocks, however, limited the rupee rise.
The rupee on Friday resumed lower at 60.25 a dollar from previous close of 60.19 at the Interbank Foreign Exchange market.
Rupee hits more than two-year low; RBI intervenes
A higher opening in the domestic equity market influenced uptrend.
The domestic currency had lost 10 paise to close at 59.03 against the dollar in Thursday's trade amid capital outflows linked to fall in equities.
The rupee bounced back by four paise to close at 65.27 per dollar on fresh selling of the American currency by banks.
A weak dollar in overseas markets also strengthened the rupee sentiment
The US stimulus programme has been credited with fuelling a global equities rally for most of the year.
Dollar sales by exporters and firm local equities also supported the local currency.
The rupee had plummeted to over three-month low of 63.32.
The rupee ended higher for the second consecutive week.
Rupee rises by 16 paise against dollar on fresh selling.
At the Interbank Foreign Exchange Market, the rupee resumed lower at 59.72 a dollar from the previous close of 59.67 and declined to a low of 59.88. It bounced back on dollar selling by exporters and some banks, touching a high of 59.30 before settling at 59.35, a rise of 0.54 per cent.
Dollar gained against major currencies overseas.
The dollar index was up by 0.43 per cent against a basket of six major currencies as euro dropped against the dollar, after quarterly economic reports from France and Germany missed expectations, said analysts.
The rupee had dropped 15 paise or 0.22 per cent yesterday.
The rupee resumed higher at 61.13 per dollar as against yesterday's closing level of 61.40 at the Interbank Foreign Exchange and strengthened further to 60.90 per dollar before ending at 61.05 per dollar, a gain of 35 paise or 0.57 per cent.
The rupee extended gains for the fourth straight day against the US currency on Thursday.
The rupee had gained 28 paise against the American currency to settle at nearly two-month high at 66.74 in Monday's trade.
Weakness of the dollar against other currencies overseas gave the rupee more muscle.
In cross-currency trades, the rupee recovered sharply against the pound sterling to finish at 93.13.
The rupee recovered marginally at close against the dollar.
Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market also supported the local currency.
The rupee got a boost as stock market investors cheered the Reserve Bank's steps. Fresh dollar sales by exporters amid sustained capital inflows also supported the local currency.
The rupee came under pressure on demand from importers as the dollar strengthened overseas.
The rupee gained 28 paise on Thursday to close at 62.50.
.jpg)
In the global market, the US dollar rose against the basket currencies in early trade as US President Barack Obama called for diplomacy in dealing with alleged chemical weapons attack in Syria but kept open the possibility of military action against the Assad regime.
A strengthening dollar overseas also kept the rupee under pressure amid demand from importers. Goldman Sachs followed JP Morgan, HSBC and Nomura in cutting India's economic growth forecast and also said it expects the rupee to touch 72 against the dollar in the next six months.
The local currency opened higher at 61.20 a dollar from the previous close of 61.30 at the Interbank Foreign Exchange Market.
A weak dollar overseas failed to restrict the rupee's decline, a forex dealer said.
Earlier, the rupee resumed slightly lower at 61.70 per dollar as against Tuesday's close of 61.69 at the Interbank Foreign Exchange market.
The rupee appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters.
The rupee on Friday fell by 9 paise to 67.64 per dollar on fresh demand for the American currency.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances