Heavy dollar selling by banks and exporters alongside debt-related inflows largely supported the rupee
Travel companies and agencies are offering early bird discounts going up to 40 per cent. Priyadarshini Maji reports
The NSE index Nifty ended above the 10,500-mark.
Cautious optimism over US-China trade talks after US President Trump said his trade negotiators had received two "very good calls" from Beijing also influenced the local currency, dealers said.
The rupee had gained by 50 paise or 0.75 per cent in two weeks.
The RBI Governor brought down retail inflation to 3.8% in July.
The rupee gained 28 paise on Thursday to close at 62.50.
The rupee's stability in the last 12 to 18 months made corporates reduce hedging
Weakness in the greenback overseas against the backdrop of sluggish US macro data outcome helped the home currency move higher
Rupee gains for 4th day against dollar, up 17 paise on Fed stance.
Rupee ended weak against the dollar.
In dull trade, the rupee on Monday ended a mere two paise lower at 60.20 against the US dollar on weak local equities and imported-driven demand for the American currency.
Rating agency Crisil said corporates, especially those in the auto, aviation, consumer durables and oil sectors, will be "severely impacted" by rupee depreciation due to large overseas debt and limited hedging.
As regards India, market valuations already reflect most positives.
The rupee had retreated from three-week high and ended six paise down at 60.67 against the dollar on demand from importers for the US currency in Thursday's trade.
The 50-stock NSE barometer Nifty finished 14.75 points, or 0.14 per cent, down at 10,382.70 after shuttling between 10,340.65 and 10,393.15.
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 partially convertible rupee ended at 62.2825/2925 per dollar.
Weakness of dollar in the overseas market also boosted the rupee value.
According to currency dealers, any sharp movement in the rupee might result in the Reserve Bank of India intervening in the foreign exchange market.
Firm equity market failed to restrict the rupee's fall against the dollar
In forward market today, premium for dollar declined on sustained receivings from exporters.
Therupee staged a smart rebound from its low towards the fag-end trade on dollar selling as well as suspected intrusion by the Reserve Bank to end steady at 63.39.
Since most Indian firms have kept their forex exposure unhedged, credit profile of companies in the highly sensitive sectors such as oil & gas, metal & mining, airlines could weaken substantially, says Anup Roy.
Bucking a strong trend in share market, the Indian rupee on Monday gave up all its initial gains and slipped 18 paise to close at 61.94 against the Greenback on rising dollar demand from importers.
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 rupee had recovered from its 29-month lows by rising 39 paise to close at 67.63 on Friday.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
According to analysts, IT firms like Infosys, TCS and HCL Technologies are likely to benefit the most on account of larger US exposures and dollar billing.
Sustained demand for the dollar is the reason.
A massive rally in domestic equities along with smooth supply of dollars on the back sustained capital inflows into equities and debt predominantly helped the upmove
The US currency weakened against major Asian currencies in global markets which lifted the rupee sentiment
After three sessions of weakness, the rupee strengthened by 50 paise against the dollar.
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
Weak equity markets too hit rupee sentiment
This is the highest closing level since May 11, 2016 when the rupee had finished at 66.56
The rupee depreciated by 19 paise to trade at almost seven-month low of 61.94 against the US currency in early trade today at the Interbank Foreign Exchange on capital outflows amidst the dollar's gain against other currencies overseas.
The RBI recently met with a handful of foreign banks and asked them to stop acting as market-makers for rupee NDFs, according to three bankers involved in the discussions.
A weak dollar overseas also aided the rupee rise while fresh sell-off by foreign funds in domestic stocks capped the currency's gains, forex dealers said.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances