Analysts expect the central bank to remain watchful of inflation.
The Rupee is 3.7 per cent undervalued on trade related basis.
Weak dollar in the overseas market also boosted the rupee value against the dollar, a forex dealer said.
In a remarkable comeback, foreign portfolio investors (FPIs) have pumped Rs 1.7 lakh crore into the Indian equity markets in 2023, propelled by confidence in the country's robust economic fundamentals amid a challenging global landscape. The year 2023 has witnessed massive investment by FPIs, thanks to the sharp uptick in inflows of Rs 66,134 crore in December. Going forward, FPI flows are expected to be robust.
This is rupee's lowest since 62.32 on January 9.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
When asked about the Uniform Civil Code, Gandhi said he would comment on it only after he knows what is BJP's proposal.
The global brokerage firm further said that BoP would be INR-supportive.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
Dealers said the sharp recovery of the rupee was because of restrictions imposed by the RBI on forward trading in the local currency by foreign institutional investors and traders, besides the cap fixed on banks' exposure to the forex market.
The rupee depreciated further by 7 paise to 65.12.
The dollar index was down by 0.16 per cent against its six major global rivals.
The ballooning of crude prices has significantly increased the country's oil import bill and it can also lead to a worsening of the current account deficit and fiscal deficit for the domestic economy.
The rupee had closed at 64.83 last Friday.
Rupee ends at 61.89 against the dollar, falls for second straight day.
But gains in the rupee were kept in check as domestic shares faltered, ending a five-session gain.
The rupee resumed lower at Rs 50.40/41 per dollar on the Interbank Foreign Exchange.
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.
As the value of rupee vis-a-vis the dollar rises, the cost of travelling abroad comes down.
The accused had obtained mobile phone SIM cards in fake names and used to take betting amounts from people through QR codes, the official said.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
'Investors looking at the next 6-12 months can be certain that the Fed will maintain its easing cycle, and we expect the overall environment to be conducive for fixed income investments for portfolio diversification.'
The rupee closed marginally stronger against the dollar on Wednesday.
Increased demand for the dollar from importers put pressure on the rupee.
Analysts say that the rupee trajectory, going ahead, will be a function of flows.
In the global markets, the euro was under pressure against the US dollar yesterday, dragged lower as European monetary policy officials indicated willingness towards supporting more stimulus measures to aid the regional economy.
Data late on Wednesday showed consumer price inflation eased more than-expected to a 25-month low of 8.10 per cent in February, while industrial output unexpectedly expanded, albeit only by 0.1 per cent.
The Indian rupee on Wednesday ended unchanged against the US dollar at 61.41 ahead of the outcome of US Federal Reserve's policy meeting.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
Travel companies are reducing the number of days from packages to make it more affordable for globe trotters.
'Global investors expect the rupee to be more vulnerable in the downturns in the future than ever before,' notes Apoorva Javadekar.
Traders are now focussed on the upcoming November trade data, due sometime this week, for near-term direction, with consumer inflation data due out on Thursday, which will help set expectations ahead of the Reserve Bank of India's policy review on December 18.
The domestic currency moved in a range between Rs 53.03 and Rs 53.24 per dollar during morning deals.
The rupee had gained nine paise to close at nearly one- month high of 61.84 against the dollar in yesterday's trade after the government said in the interim Budget that fiscal deficit this financial year will be capped below target.
Indian currency notes will soon bear the rupee symbol. It will also have extra security features.
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India's strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country's three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
The rupee resumed higher at 60.13 per dollar as against the last closing level of 60.20 at the Interbank Foreign Exchange market, and hovered in a range of 60.07 and 60.18 per dollar before quoting at 60.08 at 1000 hours.
Forex dealers said besides dollar's gains against other currencies overseas, increased demand from oil importers for the US currency put pressure on the rupee.
The rupee appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters.
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