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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.
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.
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 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.
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
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.
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.
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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 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.
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.
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.
Adequate dollar supply gave a boost to the local currency
Rupee ends day stronger against the dollar.
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
India's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion.
The rupee fell to more than one-month low of 65.75 against the US dollar on Thursday.
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 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.
On a relative worldwide scale of 0-100, the search value index of the rupee stood at 100 in August so far.
The dollar's weakness against rivals overseas supported the rupee.
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.
Even the persistent rise in equity market failed to restrict the rupee's fall.
The domestic currency has dropped by 62 paise or 0.93 per cent in four trading days.
The dollar's weakness against other currencies overseas and a higher opening in the domestic equity market supported the rupee, forex dealers said.
Weakness in dollar in the overseas market also boosted the rupee value
The rupee is expected to become more jittery and choppy in the near-term
The rupee had lost 26 paise to close at 60.16 against the dollar yesterday on fresh dollar demand from banks and importers in view of the US currency gaining overseas and weakness in local equities.
Increased demand for the American unit from importers and banks, affecting the value of the rupee
This is the highest closing level since May 11, 2016 when the rupee had finished at 66.56
The rupee has dropped by 60 paise or 0.89 per cent in the last three trading days.
The trading range for the Spot USD/INR pair is expected to be within 66.20 to 67.00.
The US dollar's weakness against some currencies overseas capped the losses.
Persistent fall in crude oil prices affected the market sentiment
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