Dealers said besides increased dollar selling by exporters, a higher opening in domestic equity market and yen's gain against the American currency overseas helped the rupee to recover.
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.
Gold prices fell by Rs 400 to Rs 1.6 lakh per 10 grams in the national capital on Thursday amid weak global trends and receding expectations of an interest rate cut by the US Federal Reserve.
'As far as the contentious issues such as agriculture are concerned, we are finding some common ground.'
Weakness in the dollar against some other currencies overseas, supported the rupee
'A deal will only be possible if India stops buying Russian oil -- but even then, New Delhi must not compromise its core red lines.'
The rupee on Monday fell by 40 paise to 59.96 in early trade on the Interbank Foreign Exchange market, weighed down by dollar's gains against other currencies in global markets.
The rupee had ended 47 paise higher at 60.14 against the US currency in the previous session.
IPL 2026 will feel like a fresh start for players like Prithvi Shaw, Jofra Archer and Rishabh Pant, it's not only about numbers on the scoreboard anymore but it's about getting their story back on track.
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
India's merchandise trade deficit widened to a record $41.68 billion in October, as gold imports trebled and outbound shipments registered their sharpest contraction in 14 months, according to data released by the commerce department.
The rupee had rose by a staggering 80 paise, its biggest single-day gain in last nine months, to close at 59.39 amid signs of strong fund inflows on Friday.
The rupee had recorded its biggest slump in two months by plunging 57 paise to close at 55.07 in previous session on Friday.
Dollar's strength against some currencies overseas capped the gains
The local currency had lost 16 paise to close at 54.17 on Monday due to fresh dollar demand from importers and some banks.
Dealers said besides higher opening in local equities and selling of the US currency by exporters, euro's gains against the American currency on positive developments in Greece supported the rupee.
Gold imports climbed 349.22 per cent to $12.07 billion in January, while silver imports rose 127 per cent to $2 billion.
Dollar selling by exporters and banks also supported the rupee, forex dealers said.
Forex dealers said besides dollar's gains against euro in the overseas markets on worsening euro-zone debt crisis amid growing fears that Spain may need a full bailout, a weak opening in the stock market also put pressure on the local unit.
Benchmark indices Sensex and Nifty closed lower in a highly volatile trade on Thursday amid relentless foreign fund outflows and selling in blue-chip ICICI Bank. Falling for the second day in a row, the 30-share BSE Sensex declined 148.14 points or 0.18 per cent to settle at 83,311.01.
The rupee on Thursday recovered by a hefty 60 paise to 53.24 against the US dollar in early trade on the Interbank Foreign Exchange market after the Reserve Bank tightened norms for utilisation of the foreign currency fixed deposit funds to check outflow of forex.
In the last four days, rupee has lost 104 paise against the dollar.
United States President Donald Trump on Wednesday said that the US is 'doing a trade deal with India' as the two sides continue to hold talks on the proposed trade pact.
A Delhi court has criticized the conduct of Indian Youth Congress workers who protested at the AI Impact Summit venue, stating their actions were not legitimate dissent but a 'blatant assault on public order' that also harmed the country's diplomatic image.
'Nehru was an idealist, he was certainly a visionary in one way, but Mao Zedong was not. Mao Zedong was a very down-to-earth strategist. He wanted to take Tibet, to take the plateau, to take the rivers, to take the minerals.'
From the Sensex pack, Asian Paints, ICICI Bank, PowerGrid, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, Sun Pharmaceuticals, Maruti Suzuki India, Axis Bank, UltraTech Cement and HCL Technologies were the only gainers. On the other hand, Eternal, Tata Motors' commercial vehicles arm, Mahindra & Mahindra, Tata Steel, Bharat Electronics Ltd, Tata Motors Passenger Vehicles, Trent, Tata Consultancy Services, Hindustan Unilever, and Infosys were among the laggards.
The domestic currency moved in a range between Rs 53.03 and Rs 53.24 per dollar during morning deals.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
Jaguar Land Rover will begin assembling premium cars at its new Tamil Nadu plant on February 9, marking a step towards full-scale luxury car manufacturing in India.
India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU, Commerce and Industry Minister Piyush Goyal said. India has implemented trade pacts with Australia, the UAE and EFTA bloc. It has also signed an agreement with the UK.
Benchmark stock indices Sensex and Nifty dived sharply by nearly 2 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed a hike in the Securities Transaction Tax (STT) on derivatives. Reversing the early gains, the 30-share BSE Sensex plunged sharply by 2,370.36 points or 2.88 per cent to slide below the 80,000-mark at 79,899.42 in afternoon trade as the finance minister announced a hike in STT on futures contracts to 0.05 per cent from the current 0.02 per cent.
External Affairs Minister S Jaishankar affirms India's self-determined and 'unstoppable' rise, emphasising the nation's strategic growth and role in the Indian Ocean region amid evolving global dynamics.
'I suspect that Bangladesh being given permission stuck in India's official craw, and this story was an attempt to balance the scales by giving the impression that a similar waiver had been given to India as well.'
Indian Grandmasters D Gukesh and Aravindh Chithambaram had contrasting results in the second round of the Prague International Chess Festival, with Gukesh drawing and Aravindh winning his game.
A delegation led by Commerce and Industries Minister Piyush Goyal will visit the United States for trade talks on September 22, the commerce ministry said on Saturday.
The Indian rupee continued its downward march and fell by another 48 paise to 46.53 against the US dollar in early trade on Tuesday owing to melting Asian stock markets amid heavy demand for the greenback.
The Indian women's football team suffered a narrow 2-1 defeat against Vietnam in their opening match of the AFC Asian Cup, conceding a late goal in injury time.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
India does not do trade agreements in a hurry or with a "gun to our head", Commerce and Industry Minister Piyush Goyal said on Friday. He said India is actively negotiating trade pacts with countries and regions, including the European Union (EU) and the US.
OpenAI CEO Sam Altman emphasized the importance of democratizing Artificial Intelligence as the only fair and safe way forward, highlighting India's significant progress in AI adoption.
