Dealers attributed the fall to fresh demand for the US currency from importers.
Foreign fund outflows and a lower opening in the domestic equity market, restricted rupee's gain.
Sustained month-end demand from banks and importers weighed.
The new IS currency comes in several denominations of gold, silver and copper.
A weakening dollar against other currencies overseas supported the rupee.
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
Tokyo -- the songs Japan, Love In Tokyo and Sayonara from the 1966 Hindi film automatically pop up in the mind -- is buzzing and crowded like any other metropolis, discovers Deepa Gahlot. The modern apartment blocks are built cheek by jowl, so close together that one can open the window and borrow sugar from the neighbour in the next building. One of the fears of the Indian traveller is the unavailability of vegetarian food. Every city and town in Japan has an array of Indian restaurants that serve every variety of cuisine, right from Gujarati to Punjabi to Andhra and Kerala meals.
Strength in dollar against some other currencies overseas weighed on the rupee
The dollar was firm against major Asian currencies.
The local currency had gained 7 paise to close at 66.57 in Monday's trade.
Profits of India's top listed companies have been growing at a faster pace than those of their American peers, but when it comes to revenue growth, the order has reversed recently. The combined net profit of the S&P 500 companies was up 14.1 per cent year-on-year (Y-o-Y) during the trailing 12 months (TTM) ended December 2023, as against 17.4 per cent profit growth logged by the BSE 500 companies in the same period. This is the second consecutive year of faster profit growth for the BSE 500 companies.
Dealers said besides increased demand for the American currency from importers, the dollar's strength against other Asian currencies overseas, put pressure on the local unit.
A higher opening in domestic stock market supported the rupee.
China's devaluation creates new risk in global financial markets and could prolong the West's slowdown.
The RBI, however, asked the government to carefully assess the pros and cons of such action.
A higher opening in the domestic equity market influenced uptrend.
The rupee rallied for the second straight session by gaining 21 paise to end at 66.10 against US dollar.
Forex dealers said a higher opening in the domestic equity market also supported the rupee.
The rupee on Monday gained for the first time in three days and closed up 12 paise to 62.56 against the dollar on fag-end sales of the US currency.
The rupee had dropped by 6 paise to close at 66.65 in Thursday's trade.
Strength in the dollar against some other currencies overseas weighed on the rupee but a higher opening in the domestic equities cushioned the impact
Increased demand for the US currency from importers put pressure on the rupee.
It moved in a range of 63.54 and 63.81 per dollar during the day.
A higher opening in the domestic equity market and a weak dollar against other currencies overseas on a string of disappointing US data last week also supported the gain in the rupee
Besides, a higher opening in the domestic equity market and gains in other Asian currencies against the dollar also supported the rupee.
The local currency had gained 17 paise to close at three-month high of 66.37 in Wednesday's trade.
Forex dealers said increased demand for the dollar from importers also put pressure on the rupee.
The home currency failed to keep momentum going and largely traded in a narrow range with positive bias in the absence of any market moving factors
The dollar was firm against some global currencies.
However, the US dollar's strength against other currencies overseas capped the rupee's gain
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The rupee moved between 53.90 and 54.25 against the American currency in the morning deals.
Rupee rises by 16 paise against dollar on fresh selling.
At interactions last week with senior officials from the Reserve Bank of India, select banks gave feedback on two key bond market concerns, namely, recent volatility in the rupee-dollar exchange rate and heavy losses incurred on floating rate government bonds due to a demand-supply mismatch, sources told Business Standard. The discussions were held ahead of the RBI's next monetary policy statement, scheduled on August 5. Indian banks are large holders of government securities because of a regulatory mandate to set aside a certain percentage of deposits in sovereign bonds.
Rupee gained on fresh selling of dollars by banks ahead of the RBI policy meeting.
Forex dealers said Euro's weakness against the dollar overseas also put pressure on the rupee.
The rupee had closed flat at 54.85 against the US dollar in Tuesday's trade amid RBI keeping key rates unchanged in the mid-quarter policy review.
The rupee had last ended at 53.50 on February 8, 2013.
Here's the father of the world's first digital currency.
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