India's current account deficit narrowed sharply to just $300 million
Increased demand for the dollar from importers put pressure on the rupee.
The RBI fixed the reference rate for the dollar at 64.1505 and for the euro at 72.2720.
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 rupee fell to more than one-month low of 65.75 against the US dollar on Thursday.
The rupee had strengthened by 19 paise on Monday.
Exchange-traded currency futures volume down 80% since Jun
Forex dealers said rebound in domestic stock markets also helped the rupee strengthen against the dollar.
Increased demand for the dollar weighed on the local currency.
Increased demand from oil importers for the American currency and a weak opening in the domestic stock market also put pressure on the rupee.
The demand for the US currency from importers outweighed capital inflows and firm local equities.
The Indian unit opened higher at 66.10 per dollar as against overnight level of 66.30 at the Interbank Foreign Exchange market and firmed up further to 66.04 on initial dollar selling.
The rupee had recovered from its 29-month lows by rising 39 paise to close at 67.63 on Friday.
Financial shares were the top losers.
The rupee recovered from initial losses against the US dollar and was quoted barely steady at 61.91 on selling of the American currency by banks and exporters on good foreign capital inflows.
The rupee on Tuesday weakened by 15 paise to close at 63.30 against the US currency
Forex dealers said besides dollar's gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
After another day of volatile trade, the rupee today appreciated by seven paise to close at a new one-month high of 59.04 against the dollar as the RBI's liquidity-tightening measures continued to lend support.
The dollar index was down 0.01 per cent at 95.86 against a basket of six currencies in early trade
Dealers attributed the rupee's fall to fresh demand for USD.
The domestic currency has already dropped 44 paise, or 0.67 per cent, in the previous two sessions.
Healthy demand for the American unit from importers and corporate weighed on the rupee
Heavy selling of the US dollar by banks and exporters in the face of renewed capital inflows predominantly kept sentiment highly buoyant
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The local currency opened at 62.20 a dollar from the previous close of 61.93 and immediately touched a low of 62.29 at the interbank foreign exchange market.
Forex market was shut on Tuesday on account of 'Mahavir Jayanti'.
Sharp rate hike in Russia further raised concerns about the global economy.
The rupee recovered by 15 paise at 65.49 against the US dollar.
The rupee ended marginally lower by three paise at 66.36 against the US dollar.
Possible slowdown of FII money into debt and equity markets could add pressure on currency.
The trading range for the Spot USD/INR pair is expected to be within 66.20 to 67.00.
The rupee showed range-bound movement on Wednesday as investors preferred to stay cautious in the unsure market.
Sustained dollar unwinding from exporters and banks amid weak overseas trend gave a boost to the rupee
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In the global market, the dollar was quoted lower in the early trade with investors looking ahead to the following day's European Central Bank policy decision.
The rupee got a boost as stock market investors cheered the Reserve Bank's steps. Fresh dollar sales by exporters amid sustained capital inflows also supported the local currency.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
The rupee has posted its biggest single-day fall in more than four months to end at 62.95 against the dollar.
The rupee had slumped to its all-time closing low of 68.80 a dollar on August 28, 2013.
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.
The rupee had gained by 50 paise or 0.75 per cent in two weeks.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
