The rupee continued to rule firm against the dollar for the second consecutive day.
Globally, gold fell by 1.32 per cent to $1,125.40 an ounce and silver by 3.98 per cent to $14.11 an ounce in New York in yesterday's trade.
The rupee had dropped by 60 paise or 0.89 per cent in previous three trading days.
Increased demand for the American unit from importers weighed on the rupee
RBI governor Raghuram Rajan, on Monday, said the current level of the rupee is "pretty reasonable" and any attempt to devalue it may lead to a surge in inflationary pressures and "offset any benefits"
The rupee had snapped its 3-day losing streak on Thursday.
The rupee resumed lower at 63.65 per dollar as against previous closing of 63.58 at the Interbank Foreign Exchange (Forex) market.
Sustained demand for the dollar is the reason.
Domestic equity markets opened with losses which capped the rupee gains.
On Monday, the rupee gained 16 paise.
Increased month-end demand for the US currency from importers put pressure on the rupee
In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
Tracking local stocks, rupee on Tuesday regained 19 paise to end at 61.85 against dollar as reports of easing geopolitical tension between Russia and Ukraine helped emerging market currencies script a smart recovery.
Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
The rupee has dropped by 60 paise or 0.89 per cent in the last three trading days.
The dollar gained against other currencies overseas.
The rupee largely shrugged off the high volatility in stocks and rebounded sharply towards the fag-end trade following bout of dollar selling by exporters
In January last year, the US signed the first phase of the trade deal with China, which former President Donald Trump described as historic, concluding more than a year of tough negotiations including several months of suspension of talks between the two largest economies of the world.
The rupee on Monday slipped by 5 paise to close at 63.57 per dollar on fresh demand for the American currency from banks.
Silver also extended its losing streak for the seventh straight session and declined by Rs 350 to Rs 44,200 per kg.
If the Fed hikes policy rates for the dollar, that will probably mean a move into US Treasuries for speculators.
The rupee had strengthened by 19 paise on Monday.
Gold tumbled by Rs 310 to Rs 30,290 per ten grams in the national capital today on heavy sell-off by stockists and a weak global trend.
Traders said sustained selling by stockists on the back of sluggish demand mainly kept pressure on precious metals.
The Rupee is seen strengthening against the dollar.
The rupee had plummeted to over three-month low of 63.32.
Investors took comfort from Finance Minister Arun Jaitley's statement, who underlined the need to have globally compatible tax rates to broad-base the economy
Lavrov said a rupee-rouble payment system for trade with India was put into place earlier and it could be strengthened further.
The rupee ended lower by 7 paise to 62.31 against the American currency on fresh dollar demand from banks.
India has much to be proud of and celebrate. But there is also much that is wrong, much that looks dangerous. Employment, current account deficit, rural distress, agricultural productivity are all in deep crisis, points out Shekhar Gupta.
BofA-ML said the liquidity deficit is running higher than the forecasts because the RBI has suspended its bond buybacks or open market operations.
The S&P BSE Sensex ended the session at 25,342, up 3 points while the Nifty50 closed at 7,738 points.
With Europe focusing still on price stability (i.e. inflation), the weaker economies of Europe are taking the strain as the Euro rises on the currency markets. Stronger nations like Germany are doing well internationally, so they are affected far less by a strong Euro than weaker states such as Spain, Greece and Ireland. This was reflected in the 9 per cent growth in Japanese exports last month, which saw 15 per cent growth in trade with China alone.
The rupee dropped on renewed demand for the American currency.
Nifty ends above 8,400; TCS, HDFC surge 2%, Bajaj Auto dips 2%.
The domestic unit had recovered to 68.65 in early trade on Friday as against Thursday's closing of 68.72.
Rupee is under pressure against the dollar say currency watchers.
Silver advanced by Rs 150 to Rs 34,200 per kg on increased offtake.
... As the world swings from 'financialisation' to 'artificial intelligence', asks Ajit Balakrishnan.
The Rupee is seen recovering from its all-time lows against the dollar.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances