In line with rally in stocks, the Indian rupee on Monday appreciated for the second straight session and closed with a eight paise gain at a one-week high of 61.36 against the Greenback.
The rupee weakened by 27 paise to trade at six-week low of 60.45 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
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.
'Probability has increased for India to have improved fundamentals'.
Rising for the second session, the Indian rupee on Thursday climbed by 50 paise to nearly four-week high of 62.67 against the greenback on persistent selling of dollars by banks and hopes of capital inflows in view of a strong equity market.
In order to contain Current Account Deficit and arrest value of declining rupee, the RBI last month had raised the cost of borrowing for banks and reduced availability of funds to curb speculation in the forex market.
The rupee on Tuesday gained 14 paise to close at 61.88 against the dollar.
Goldman Sachs downgraded its rating on Indian stocks to 'underweight'.
The huge pressure on the currency market largely went unnoticed because of the demonetisation exercise.
The US Fed on May 24 hinted at withdrawing its third round of quantitative easing, or bond buying programme, worth $85 billion each month, which began in the wake of the worst credit crisis in September 2008.
The rupee ended lower by 7 paise to 62.31 against the American currency on fresh dollar demand from banks.
The rupee ended almost flat against the dollar.
After a day's respite, the rupee on Wednesday fell by 29 paise, its biggest single day fall in a week, to end at 56.73 today due to heavy dollar demand from importers amid renewed concerns over withdrawal of US monetary stimulus.
The dollar's weakness against rivals overseas supported the rupee.
The rupee ended the day stronger against the dollar.
Forex dealers said besides a lower opening in the domestic equity market on fears of a rate hike by the Reserve Bank, higher demand for the American currency from importers put pressure on the rupee but dollar's weakness against other currencies overseas, capped the fall.
Rajan's first few measures include swap window facility for banks to lure in NRI funds.
The rupee appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters.
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.
Financial shares were the top losers.
The rupee resumed higher at 64.40 a dollar from Friday's close of 65.24 and touched a low of 64.54 at the interbank foreign exchange market.
The finance ministry and RBI must get less conservative and improve co-ordination.
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.
Sentiment remains broadly supported on strong foreign buying in Indian markets, especially in debt.
The MSI board has recommended a dividend of Rs 75 per share of face value Rs 5 for 2016-17 entailing a total outgo of Rs 2,726 crore inclusive of taxes
The rupee had gained 24 paise to close at nearly one-week high of 60.95 against the dollar yesterday following selling of the US currency by exporters and some banks, amid sustained heavy capital inflows.
Devangshu Datta predicts the good, the bad and the ugly of currency trends for the coming year.
The rupee continued its downslide for the second session in a row, depreciating by 20 paise to close at more than one-week low of 62.51 against the greenback.
Forex market was shut on Tuesday on account of 'Mahavir Jayanti'.
India's current account deficit narrowed sharply to just $300 million
The Indian currency resumed lower at 61.50 per dollar as against the last closing level of 61.46 at the Interbank Foreign Exchange Market.
Dollar sales by exporters and firm local equities also supported the local currency.
Rajan said that even though inflation has breached the 6 per cent mark as against the RBI target of getting it down to 5 per cent by March 2017, the price rise scenario will ebb in future
US dollar was firm against global currencies in overseas markets on rising prospects for a rate hike by US Federal Bank, which hit the rupee sentiment
The rupee briefly touched 66.78 in late afternoon trade due to stray dollar buying by some banks.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
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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.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
Growth in India's gross domestic product for the June quarter of 2013-14, as well as for the entire 2014-15, was 4.7%.
Possible slowdown of FII money into debt and equity markets could add pressure on currency.
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