The rupee on Friday bounced back 32 paise to close at 64.74 against the American currency on fresh selling of dollar.
The rupee fell to more than one-month low of 65.75 against the US dollar on Thursday.
Fag-end selling of dollars by banks and exporters
RBI fixed the reference rate for the dollar at 66.2930 and euro at 74.8978.
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The basis of Ind-Ra's expectation of INR appreciation is based on economic developments in the last one to two months of this fiscal and the likely developments in the remaining months.
The rupee continued to slide against the pound sterling and finished at 102.64 as against 102.25 previously.
The broader NSE Nifty after shuttling between 10,451.90 and 10,595.75 finally ended 100.30 points, or 0.96 per cent, higher at 10,582.50.
Expectations of good foreign capital inflows into equity market in view of firm trend in the stock market also boosted the rupee value against the dollar.
The local currency had gained 10 paise to close at 63.51.
The Indian currency had appreciated by a whopping 85 paise in three-day surge
Renowned Indian-American cardiologist Suresh Gadasalli, who performed the world's first simultaneous hybrid revascularisation, was shot dead by his friend and business associate who then committed suicide in Odesaa in the US state of Texas, police said.
Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts. One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias. While the equity market has been surging with occasional blips, the rupee has mostly been weak against the US dollar in recent months.
The domestic currency has gained by four paise or 0.06 per cent in two days.
The Rupee is likely to recover during day trad, say currency watchers.
The domestic currency has dropped by 62 paise or 0.93 per cent in four trading days.
The rupee extended its losses and slipped 12 paise to 77.74 against the US dollar in early trade on Thursday, weighed down by a muted trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange, the rupee opened at 77.72 against the American dollar, then lost ground to quote at 77.74, registering a fall of 12 paise from the last close. On Wednesday, the rupee declined by 1?7 paise to close at its fresh lifetime low of 77.6?1 against the US dollar.
Weakness in the dollar against some currencies supported the rupee.
Traders said stockists selling in line with a weak global trend as stronger dollar reduced appeal for the precious metal, led to decline in gold prices.
Debt-ridden telecom operator Vodafone Idea on Thursday said its board has approved raising of up to Rs 14,500 crore, including Rs 4,500 crore from promoter entities. An amount of Rs 10,000 crore would be raised by way of sale of equity or through debt instruments such as ADR, GDR and FCCBs. In a regulatory filing, the company said the board has cleared issuance of up to 338.3 crore equity shares of face value of Rs 10 each at an issue price of Rs 13.30 per equity share for an aggregate consideration of up to Rs 4,500 crore.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
The rupee has lost 32 paise, or 0.50 per cent, in five trading days
The rupee recovered by three paise to close at 67.65 on fresh selling of dollars by banks and exporters amidst a recovery in equities.
Persistent fall in crude oil prices affected the market sentiment
The phone conversation between Jaishankar and Blinken came days after Russian Foreign Minister Sergey Lavrov paid a two-day visit to India.
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
The rupee is trading weak against the dollar in afternoon trade.
Bullish dollar sentiment overseas alongside sluggish domestic equity market predominantly impacted the domestic currency
The rupee is expected to become more jittery and choppy in the near-term
The domestic currency had gained by 80 paise, or 1.19 per cent, in previous five trading days.
The trading range for the Spot USD/INR pair is expected to be within 66.20 to 67.00.
Traders said stockists selling against sluggish demand at higher levels mainly pulled down both gold and silver prices.
A weakening dollar against other currencies overseas supported the rupee.
The domestic currency has dropped 40 paise or 0.60 per cent in two days
The combined 10 Asian currencies have appreciated by 6.6%.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
Dollar gained against major currencies overseas.
While the government's recent moves may have been necessary in some cases, these would have an adverse impact on the investment cycles of some of these companies. The marquee global names are suddenly finding themselves out of favour as local flavour is gaining currency in the run up to 2019 elections.
Bullion traders said sustained buying by jewellery fabricators and retailers to meet the festive season demand mainly kept precious metal prices higher.
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
It has gained by 23 paise or 0.36 per cent in two days
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