Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report.
Month end dollar demand from oil importers has forced rupee to trade weak.
The RBI fixed the reference rate for the dollar at 65.2525 and for the euro at 72.1954.
The rupee dropped to nearly 9 months low of 56.01 to the dollar on Thursday.
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
After selling dollars for the past few months, the Reserve Bank of India (RBI) may take a hands-off approach before its annual account closing by not trying to prop up the rupee as geopolitical tensions show signs of stabilising with global crude oil prices easing from its $140 peak. The central bank was a net buyer of dollars between April and September, and then turned a net seller in the following months, the data released by the RBI showed. The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
Further outperformance hinges on pickup in industrial activity, buying by local investors.
Probably 35 bps. There could be even an encore in February 2023 to take the policy rate to 6.5% before the financial year ends, predicts Tamal Bandyopadhyay.
The Indian rupee was off to a bad start in the new year as it suffered the worst single-day drop in over two weeks today by falling 32 paise to end at 63.35 against the US dollar.
India's external firewalls were solid in the form of a healthy reserve position.
FPIs, which are holding large exposures in Indian debt, could also be expected to book some capital gains as yields slide down
Assume that the rupee will trend lower over the next 10 years as India increases overseas sovereign exposures, and your long-term asset allocation should be geared to deal with this trend, suggests Devangshu Datta
The dollar index was down by 0.02 per cent against a basket of six major currencies.
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The rupee tumbled past 63.00 to the dollar, down about 2 per cent on the day and breaching the previous low of 62.03 hit on Friday despite a spate of measures in recent weeks by the central bank and government to defend it.
Research and ratings agencies like Icra and Moody's have said the CAD in 2018-19 would be much higher than 2017-18
This is its lowest level since August 30
Not only is gold a hedge against currency depreciation, rising crude prices and uncertainty, it is up 7 per cent (in dollar terms) in the past 12 months, says Devangshu Datta.
Extending losses for the second straight session, the rupee slipped by 11 paise at 66.54 against the US dollar.
The Indian rupee dropped by 58 paise to a lifetime low of Rs 52.73 per US dollar in early trade on Tuesday on persistent demand for the American currency from banks and importers amid sustained foreign capital outflows from the equity market.
Since its peak, the S&P BSE Sensex has dropped nearly 3,000 points.
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.
Rupee weakened by 10 paise to end at 66.14 against the dollar due to month-end demand from importers and banks.
Given the stability of the rupee over the last 10 months, many companies have been tempted not to hedge their foreign currency risk.
The rupee recovered marginally at close against the dollar.
A firming trend in domestic stock markets, however, capped the rupee fall to some extent
The US currency weakened against major Asian currencies in global markets which lifted the rupee sentiment
Lower dollar in the overseas market also boosted the rupee value
Dollar gained against major currencies overseas.
Across the board, demand would appear to be slacker than it should be if we are headed for a healthy recovery.
Foreign capital inflows also boosted the rupee value against the dollar
Indian rupee appreciated by 35 paise to end at two-week high of 63.03 against the greenback.
Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
The dollar index was trading marginally higher by 0.06 per cent.
M V Subramanian says there is an imperative need for collective responsibility to tackle inflation, prices and availability of essential commodities, and not rely on inflation targeting alone.
Extending its losing streak for the fourth straight day, the rupee weakened by five paise to 61.01 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
The rupee closed almost flat at 65.76 against the US dollar on some demand for the American currency from banks.
The Indian rupee ended slightly lower at 64.01/02 per dollar compared with Tuesday's close of 63.98/99 per dollar due to month-end dollar demand by importers.
The rupee ended marginally higher by two paise at 62.24 against the dollar on Wednesday.
