The rupee had lost 10 paise to close at 21-month low of 64.26 against the greenback in Tuesday's trade.
On Monday, Reserve Bank hiked the lending rates to banks by 2 per cent to 10.25 per cent.
The rupee declined marginally by 3 paise to 66.03 per dollar on fresh demand for the US currency from banks and importers.
In recent sessions, shares have rallied on hopes Hindu nationalist opposition leader Narendra Modi, a more business-friendly candidate, is seen coming to power on promises of economic revival and jobs.
The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions.
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.
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
Lacklustre domestic equities alongside ongoing FCNR redemptions added pressure on the local currency
In worldwide trade, the American dollar traded with solid strength against all major emerging currencies
The greenback rose 9 percent against currencies.
.jpg)
In New York, the US dollar gained against most rivals on last Friday, as a week of data reassured investors that December's dismal employment report wasn't indicative of a broader shift in the economy.
On the gaining side, Hero Moto, SBI, HDFC, HUL and L&T have gained between 1-1.4 per cent.
The headline inflation eased to a five-month low in December on lower vegetable prices, providing some relief to the ruling coalition before a national election and increasing the odds that interest rates will stay on hold this month.
The rupee recovered 14 paise to 66.40 against the dollar in early trade on Monday.
The rupee slipped from its initial gains by 5 paise against the US currency to 67.89 in late morning deals on bouts of dollar demand from importers.
The rupee had lost 15 paise to hit two-week closing low of 60.68 against the dollar in yesterday's trade on consistent demand for the US currency from importers and some banks on strong global cues.
The rupee had recovered from its 29-month lows by rising 39 paise to close at 67.63 on Friday.
The Reserve Bank on Thursday said its surplus (profit) for the FY'14 fiscal declined 14.75 per cent to Rs 52,679 crore (Rs 526.79 billion) as its interest income from investments in foreign sovereign bonds declined during the year even as its investments increased.
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
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.
In forward market, premium for dollar declined in view of mild receivings from exporters.
Frantic dollar demand from corporates along with an aggressive hedging strategy adopted by importers in the wake of the currency volatility predominately took a toll on the domestic unit despite moves by the central bank to stabilise the currency.
.jpg)
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 which has been relatively stable over the last couple of months after having seen as much as 20 percent fall to a record low in late August has been boosted mainly by robust foreign fund inflows into the stock market.
Rupee down 13 paise to 66.72 against dollar
Silver, platinum and palladium all declined.
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.
Rupee ends day stronger against the dollar.
Indian industry will have to deal with high raw material prices, and user industries will see their costs rising though with a lag in some cases.
Adequate dollar supply gave a boost to the local currency
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
The rupee fell to more than one-month low of 65.75 against the US dollar on Thursday.
India's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion.
On a relative worldwide scale of 0-100, the search value index of the rupee stood at 100 in August so far.
The rupee had gained 10 paise to close at 60.11 against the dollar in Tuesday's trade on fag-end selling of the US currency by banks and exporters.
Sterling fell to a 31-year low against the dollar on Monday as a sell-off stemming from Britain's decision to quit the European Union gathered pace, with the euro also pressured as Brexit clouded the future of the rest of the bloc.
Bullish dollar sentiment overseas alongside sluggish domestic equity market predominantly impacted the domestic currency
The rupee had lost 31 paise to close at one-month low of 61.07 on Wednesday on sustained dollar demand from banks and importers.
The dollar's weakness against rivals overseas supported the rupee.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances