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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 weakened by 27 paise to trade at six-week low of 60.45 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
The rupee on Wednesday snapped its two days of losses and edged up two paise to end at 59.27 against the dollar following late selling of the US currency by exporters.
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While RBI's foreign exchange reserves have swelled to over $400 billion, it has a 'sell' position of $981 billion.
The case relates roughly to assessment years 2000-01 to 2002-03 and 2004-05 to 2007-08
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
The immediate concern for the rupee is the sharp spike in oil prices
Month end dollar demand from oil importers has forced rupee to trade weak.
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India's record current account deficit has been a key reason behind why Standard & Poor's and Fitch Ratings cut their outlooks on the country's sovereign rating to 'negative' last year.
After a day's respite, the rupee on Wednesday fell by 29 paise, its biggest single day fall in a week, to end at 56.73 today due to heavy dollar demand from importers amid renewed concerns over withdrawal of US monetary stimulus.
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The rupee closed at Rs 66.21 in its last trading session.
The RBI recently met with a handful of foreign banks and asked them to stop acting as market-makers for rupee NDFs, according to three bankers involved in the discussions.
The huge pressure on the currency market largely went unnoticed because of the demonetisation exercise.
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Increased demand from oil importers for the American currency and a weak opening in the domestic stock market also put pressure on the rupee.
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GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore.
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The inter-ministerial committee will coordinate investigation against Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gandhi Memorial Trust.
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
It was an evening to remember for the people residing in 'Mecca of Indian Football' as a riot of colours lit the Salt Lake skyline with much awaited Indian Super League (ISL) doing everything possible to strike the right chord with the football aficionado.
RBI is unlikely to stem the slide against the dollar as the greenback is rising rapidly against all currencies in the world.
The Supreme Court on Wednesday directed AIIMS director to constitute a medical board to examine whether Dravida Munnetra Kazhagam chief M Karunanidhi's wife Dayalu Ammal is medically fit to depose as a witness before a Special CBI court in a 2G scam case.
India's limited-overs captain Mahendra Singh Dhoni, along with his teammates Ravindra Jadeja, Ajinkya Rahane, Suresh Raina and Ravichandran Ashwin, among others, will be up for grabs for the two new IPL teams in the draft to be held in Mumbai.
The court said a 'scam was created when there was none'.
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