At lower levels, a supportive buying in dollar forced rupee to depreciate since opening trade
Sluggish domestic equities and persistent capital outflows largely pressurised the Indian unit
The rupee had dropped by 60 paise or 0.89 per cent in previous three trading days.
Lower dollar in the overseas market also boosted the rupee value
The dollar moved higher, while prices for US government debt fell, as traders ramped up bets the Federal Reserve would raise interest rates in March
The rupee ended marginally higher by two paise at 62.24 against the dollar on Wednesday.
Fed is still concerned about weak export growth.
The government can also individually exempt the PSBs, that are to be privatisated from the two Bank Nationalisation Acts. This will bring such lenders under Banking Regulation Act, and make them companies, reports Nikunj Ohri.
Unwinding of long dollar positions ahead of the US job data backed the rupee sentiment
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
The RBI is expected to cut rates in next policy.
The RBI fixed the reference rate for the dollar at 64.1505 and for the euro at 72.2720.
'It was because of the huge selloff in the Indian equities that the rupee fell so sharply against the dollar on Friday.'
Janet Yellen is guiding the Federal Reserve towards its first rate rise in a decade armed with traditional economic models that some economists worry could fail her in a world of massive money printing and near zero rates.
Most expect these bubbles to break in short order and cause serious financial pain to anyone who's foolhardy enough to remain invested in financial assets.
The rupee showed range-bound movement on Wednesday as investors preferred to stay cautious in the unsure market.
The rupee continued to slide against the pound sterling and finished at 102.64 as against 102.25 previously.
The policy statement by the RBI governor is also expected to be upbeat.
India was less directly affected by the Chinese stock market rout and yuan devaluation that battered currencies and markets in the region.
Amid slowing growth and low interest rates, investors will need to focus on stock-picking, suggests John Remmert.
The rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
Ongoing trade-war rhetoric between the US and China added some nervousness on the trading front coupled with extremely bullish dollar sentiment overseas.
The rupee had slumped to its all-time closing low of 68.80 a dollar on August 28, 2013.
HDFC, ONGC, Maruti Suzuki, HeroMoto Corp and Bajaj Auto gained the most on BSE Sensex
The government needs to take positive action to reaffirm that story.
The gains were capped due to month-end dollar demand from importers, mainly oil firms
Foreign fund inflows and a higher opening in the domestic equity market supported the domestic unit
A widening probe by US authorities involving top drug companies following complaints of price fixing of generics was a point of worry for the participants, said analysts.
US gold futures slid over 1 per cent on Thursday, while silver futures dropped 2 per cent.
The rupee extended gains for the second straight session against the US currency by firming up 21 paise to close at 64.82 a dollar.
Forex dealers said besides fresh demand from importers for the American unit, a lower opening in the domestic equity market as well as decline in industrial production growth to 4-month low of 0.5 per cent in July, put pressure on the rupee.
The rupee recovered 14 paise to 66.40 against the dollar in early trade on Monday.
Pakistan Muslim League-Nawaz (PML-N) president Sharif, 70, and Pakistan Tehreek-i-Insaf (PTI) vice-chairman and former foreign minister Shah Mahmood Qureshi on Sunday filed their nomination papers for the post.
By piling more pressure on governments, central banks risk not accomplishing much and yet provoking a political backlash that could threaten their independence.
71-year-old Sven-Goran Eriksson won 18 trophies with various clubs in Sweden, Portugal and Italy, between 1979 and 2000, and became the first manager to win league-and-cup doubles in three countries.
The minister further said the rupee will regain the ground it lost against other currencies in the past few days.
Hiccups in Chinese economy and the overall strength of the dollar will continue to be a drag on the rupee in the coming year
Leader of Opposition Mallikarjun Kharge, speaking on the Motion of Thanks on the President's address, charged the government with not delivering on its various promises, including generating two crore jobs per year.
Tracking a recovery in local shares, the Indian rupee on Friday snapped a two-day declining trend and bounced back by 39 paise to end at 61.44 against the Greenback on fresh dollar selling by exporters and some banks.
The dollar maintained its bullish momentum in Asian and early European trade
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