The domestic currency had ended 12 paise lower at Rs 55.80 against the dollar in Thursday's trade on fresh dollar demand from banks and importers amid a rise in May inflation.
The rupee had ended higher by 12 paise at 55.68 against the dollar in the previous session on fag-end selling of dollars by banks and exporters amid euro gaining strength overseas.
The Indian rupee dropped by 58 paise to a lifetime low of Rs 52.73 per US dollar in early trade on Tuesday on persistent demand for the American currency from banks and importers amid sustained foreign capital outflows from the equity market.
The rupee had lost 11 paise to close at 55.65 against the Greenback on Monday due to late dollar demand from importers.
Dealers attributed the rupee's fall to increased demand for the US currency from importers.
Forex dealers said fresh dollar demand from banks and particularly, month-end demand from oil importers despite weakness of the dollar in the overseas market pulled down the rupee.
The rupee on Monday dropped by 30 paise to 54.72 against the US dollar in late morning trade, due to on fresh demand for the American currency from banks and importers despite a weak global trend.
The domestic currency had lost 44 paise in the previous two days.
Snapping its two-day losing streak, the rupee on Monday bounced back by 9 paise to 66.67 against the US dollar.
The Sensex and Nifty spiralled lower for the fourth session on the trot on Wednesday as investors remained on edge ahead of US inflation data, which will give clues on the Federal Reserve's policy tightening trajectory. Unabated selling by foreign institutional investors and a jump in crude prices also weighed on sentiment, traders said. Despite a firm start, the 30-share BSE Sensex failed to carry forward the momentum and ended at 54,088.39, lower by 276.46 points or 0.51 per cent. During the day, it tumbled 845.55 points to 53,519.30.
Banks and exporters preferred to reduce their dollar position at the current stage in view of sustained capital inflows coupled with weakness in dollar overseas, forex dealers said.
The rupee had lost 11 paise to close at 66.44 against the dollar.
The domestic unit closed higher by 11 paise at 66.56 in Wednesday's trade.
The dollar index was trading marginally higher by 0.06 per cent.
A lower opening in the domestic equity market put pressure on the rupee.
The rupee resumed lower at Rs 50.40/41 per dollar on the Interbank Foreign Exchange.
The Indian rupee was down by 44 paise at a fresh two-year low of Rs 48.25 per United States dollar in early trade on Tuesday on persistent demand for the American currency from banks and importers on the back of dollar firmness in overseas market.
The rupee had ended 12 paise higher at 63.70 on Monday.
The rupee had lost 6 paise to close at 55.80 against the Greenback yesterday on persistent dollar demand amid stronger trend overseas.
The dollar firmed up against some global currencies.
On Tuesday, the rupee closed lower by 13 paise at 67.27.
The domestic unit closed lower by 6 paise at 66.71.
Dollar's weakness against other currencies in the global market made the local unit stronger.
He based his optimism on hedging tools available.
In the global market, dollar fell against most of its rivals on Monday.
The dollar index was down by 0.02 per cent against a basket of six major currencies.
Equity benchmarks began the week on a downbeat note on Monday, weighed by heavy selling in market heavyweight Reliance Industries and persisting weakness in global bourses. The rupee plunged to its lifetime low against the US dollar amid unabated foreign fund outflows, underscoring the risk-off sentiment prevailing globally as central banks embark on policy tightening to tame soaring inflation. Slipping for the second straight session, the 30-share BSE Sensex shed 364.91 points or 0.67 per cent to close at 54,470.67.
Rupee weakened by 10 paise to end at 66.14 against the dollar due to month-end demand from importers and banks.
On Monday, the rupee had moved up by 3 paise.
The dollar was weak against major world currencies.
The rupee resumed lower at Rs 53.54/55 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53.23/24 per dollar, and declined further to a record low of Rs 53.80 against the American currency before quoting at Rs 53.60/61 per dollar at 1030 hours.
There was fresh selling of the American currency by banks and exporters
The US dollar index was up by 0.16 per cent at 96.53.
"Commerce ministry pushes for all these things. There is no proposal to devalue," a top finance ministry official said. "Exporters would have come to the commerce ministry with this issue. However, there is nothing to discuss from our side."
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The rupee hovered in a range of 63.75 and 63.84.
Therupee staged a smart rebound from its low towards the fag-end trade on dollar selling as well as suspected intrusion by the Reserve Bank to end steady at 63.39.
The Indian rupee on Monday appreciated by 16 paise against the American currency in early trade on hopes of increased capital inflows from foreign funds boosted by last week's rally in the stock markets.
Rupee edges higher against dollar at close.
The rupee had firmed up by 28 paise to close at 3-week high of 66.97 in Monday's trade.
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