On Friday, the rupee had gained 9 paise to close at a fresh one-week high of 67.08.
The Reserve Bank of India is likely to cut policy rates by 0.25 per cent and keep the cash reserve ratio unchanged at its policy review next week, on the back of slower-than-expected growth and more encouraging inflation readings, says a report by HSBC.
The rupee had jumped by 164 paise or 2.39 per cent in previous six trading days.
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A sustained rise in equity market also boosted the rupee sentiment.
The rupee continued to rule firm against the dollar for the second consecutive day.
Even the persistent rise in equity market failed to restrict the rupee's fall.
Sharp fall in domestic stock market also affected the rupee sentiment.
The rupee snapped its two-day winning run against the dollar.
The domestic currency has dropped 40 paise or 0.60 per cent in two days
The domestic currency has dropped by 62 paise or 0.93 per cent in four trading days.
Forex dealers said rebound in domestic stock markets also helped the rupee strengthen against the dollar.
Increased demand for the American unit from importers and banks, affecting the value of the rupee
The trading range for the Spot USD/INR pair is expected to be within 66.20 to 67.00.
Weakness in dollar in the overseas market also boosted the rupee value
The rupee has dropped by 60 paise or 0.89 per cent in the last three trading days.
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The rupee has lost 37 paise or 0.55 per cent in two days.
The rupee showed range-bound movement on Wednesday as investors preferred to stay cautious in the unsure market.
The rupee recovered by three paise to close at 67.65 on fresh selling of dollars by banks and exporters amidst a recovery in equities.
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The rupee has dropped by 83 paise or 1.24 per cent in three days
The rupee continued to slide against the pound sterling and finished at 102.64 as against 102.25 previously.
Waiting for capitulation in commodity markets is the better route to profits, says Sonali Ranade.
Forex dealers said besides the dollar's gains against the euro overseas, increased demand from importers for the US currency and a lower opening in the domestic equity market also put pressure on the rupee.
The US dollar's weakness against some currencies overseas capped the losses.
The domestic unit moved in a range of 64.14 and 63.99.
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Some analysts believe that markets are expected to remain unclear and would have to wait until tomorrow's US non-farm payrolls data.
Continuing its range-bound movement for the fourth session, the rupee today closed up by two paise at 59.25 ahead of industrial output and retail inflation data.
The dollar is king in an intermediate correction, says Sonali Ranade
There was fresh selling of the American currency by banks and exporters
ITC, Sun Pharma, Cipla and Tata Steel were top gainers on BSE Sensex
The Indian rupee ended slightly lower at 64.01/02 per dollar compared with Tuesday's close of 63.98/99 per dollar due to month-end dollar demand by importers.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
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.
Wholesale prices too rose at the same pace to 45-55 per kg in the national capital and other states.
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
Comparative to other Asian GDP growths, India would have the fastest economic expansion, it said
The domestic currency has gained by four paise or 0.06 per cent in two days.
The Rupee is seen recovering from its all-time lows against the dollar.
