It has gained by 23 paise or 0.36 per cent in two days
Reserve Bank Governor Raghuram Rajan on Friday said the recent rally in the rupee is comforting but said the currency has not yet achieved stability which will only be reached when he stops keeping a "minute-by-minute" track of the unit.
Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
The five-nation grouping BRICS on Tuesday resolved to combat terrorism in all its forms and manifestations, including the cross-border movement of terrorists, and vowed to step up joint efforts in building support for an India-backed global framework to effectively deal with the menace.
The rupee appreciated by 10 paise to close at a nearly six-week high of 60.29 against the US dollar in the previous session tracking a solid rally in local shares and continued dollar selling by exporters and some banks.
The dollar was firm against some global currencies which also weighed on the rupee.
The rupee had depreciated by 13 paise to end at 67.20.
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
'While many Chinese policy makers dismiss the political, economic and technological component of US-India relations, they express caution on the defence-related ties which also happens to be a major driver in US-India relations,' explains China expert Srikanth Kondapalli.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
Dollar's strength against other currencies overseas capped the rupee's gain
The venture is seen as a rival to the World Bank.
The US dollar surged to fresh one-year high after the Fed chief's testimony to the US Senate on Wednesday bolstered the expectations of interest rate hikes, though gradually.
Finance Commission has got new team who are committed to growth initiatives.
A lower opening at the domestic equity market and the dollar's rise against other major currencies overseas also put pressure on the rupee, dealers said.
The rupee closed at 60.31/32 on Thursday.
The dollar maintained its bullish momentum in Asian and early European trade
The rupee on Friday fell by 9 paise to 67.64 per dollar on fresh demand for the American currency.
Fitch reaffirmed India's rating at 'BBB-' with a Stable Outlook saying the rating balances a still strong medium-term growth outlook compared with similar category peers and relative external resilience stemming from solid foreign-reserve buffers against high public debt, a weak financial sector and some lagging structural factors, including governance indicators and GDP per capita.
Amid slowing growth and low interest rates, investors will need to focus on stock-picking, suggests John Remmert.
China would be an influential player in the bank
The domestic currency had lost 63 paise to close at over four-month low of 61.18 against the dollar in Friday's trade on weakness in global stock markets and a strong US currency overseas.
S&P BSE Midcap shed 0.8% while S&P BSE Smallcap tumbled 0.6%
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
Two senior ministry officials, who declined to be named, said the aim was to attract more capital flows from wealth funds in West Asian countries.
Foreign funds sold Indian shares worth 446.9 million rupees ($7.4 million) on Wednesday, provisional exchange data showed, marking the third consecutive session of outflows.
China will also set up 50 joint laboratories with countries participating in the Belt and Road initiative to enhance cooperation on innovation.
Indian equity markets registered their highest single-day percentage gains since early October.
The broader markets ended negatively with mid-caps and small-caps shedding 0.5 per cent on the BSE.
The rupee plunged by 28 paise to more than 2-month low of 66.47 against the US dollar on Monday.
On price rise, HSBC said that the rate of cost inflation decelerated sharply while output prices were unchanged.
The rupee slipped from its initial gains by 5 paise against the US currency to 67.89 in late morning deals on bouts of dollar demand from importers.
RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
India is among the worst-performing BRICS nations along with Brazil (ranked even lower than India at 71st this year).
Traders said good dollar demand from importers including oil companies was seen at stronger rupee levels, limiting any further gains.
The S&P BSE Sensex surged 217 points to end at 25,736.
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The partially convertible rupee closed at 63.37/38 per dollar compared with 62.83/84 on Monday. The unit dropped 0.85 per cent on the day, its biggest single-day fall in two weeks.
A stable dollar will at minimum reduce incremental cross-currency pain for Indian cos.
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