A fresh demand for the US currency from importers weighed on rupee.
The domestic currency moved in a range between Rs 53.03 and Rs 53.24 per dollar during morning deals.
The rupee resumed lower at Rs 52.80/81 per dollar on the Interbank Foreign Exchange, against its previous close of Rs 52.71/72 per dollar.
The rupee had retreated from three-week high and ended six paise down at 60.67 against the dollar on demand from importers for the US currency in Thursday's trade.
The rupee on Friday bounced back 32 paise to close at 64.74 against the American currency on fresh selling of dollar.
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A weak rupee makes imports costlier, including oil and other commodities.
The dollar firmed up against some global currencies.
In a quiet trade at the Interbank Foreign Exchange (Forex) market, the local currency resumed firm at 39.46/48 a dollar from Wednesday's close of 39.5450/5500 a dollar, but later trimmed gains at 39.49/50 per dollar in late morning deals. It swung in a range of 39.46 and 39.53 in early trade.
Resuming its slide against the greenback, the Indian rupee plunged to its more than one-year low of 41.76/77 against a US dollar. Heavy demand for US currency in view of high oil prices continued modest on its short supply. The Interbank Foreign Exchange (Durex) market witnessed brisk trade with wide fluctuations in the local currency in a range of 41.55 and 41.79 during the day. The local currency lost 41 paise against the US counterpart.
Spurting by a whopping 21 paise, the rupee scaled a fresh over 50-1/2-month closing peak at Rs 43.53/54 per dollar on Wednesday.
The US Fed kept its near-zero benchmark interest rate unchanged.
On Wednesday, the rupee ended barely steady at 64.93.
The rupee continued to resist the pressure from oil companies and appreciated marginally against the US currency in Wednesday morning dealings.
The local currency dropped to 61.75 before concluding at 61.70, a loss of seven paise from its previous close.
The domestic currency had last ended at 64.17 per dollar.
The rupee opened steady at 63.30 per dollar at the Interbank Foreign Exchange; but, firmed up to 63.22 before quoting at 63.23 per dollar at 1000 hours.
Bouts of dollar demand from importers put pressure on the rupee
Increased demand for the dollar from importers put pressure on the rupee.
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In global markets, the dollar declined against key rivals in early trade as investors weighed the prospects for a continuation of monetary stimulus from the US Federal Reserve.
The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.
The rupee had advanced 7 paise to end at 65.51 on Thursday.
On Monday, the rupee had moved up by 3 paise.
The local currency had surged 18 paise to 63.64 in Thursday's trade.
The S&P BSE Sensex plunged 128 points to end at 25,102.
The domestic unit closed lower by 6 paise at 66.71.
After another day of volatile trade, the rupee today appreciated by seven paise to close at a new one-month high of 59.04 against the dollar as the RBI's liquidity-tightening measures continued to lend support.
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
The rupee had jumped by 16 paise to end at over two-month high of 61.71 against the greenback on good inflows in local markets and sustained dollar sales by exporters.
It moved in a range of 63.54 and 63.81 per dollar during the day.
The dollar was firm against some global currencies which also weighed on the rupee.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the local unit opened lower at 42.20/22 a dollar from Tuesday's close of 42.10/12. It dropped further to a low of 42.67 a dollar due to heavy dollar buying by oil refiners as the global crude oil prices remained near $126 a barrel after striking a new peak of $126.98 a barrel in intra-day trade at New York on Tuesday. Sustained capital outflows also partly affected the rupee sentiment.
The US stimulus programme has been credited with fuelling a global equities rally for most of the year.
The rupee had risen for the fifth straight session on Thursday.
The rupee had gained two paise to close at one-month high of 62.14 against the dollar in Tuesday's trade.
The rupee ended higher for the second consecutive week.
The rupee had snapped its 3-day losing streak on Thursday.
The rupee fell sharply by 32 paise at 66.37 against the US dollar in early trade on Tuesday.
The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows weighed on investor sentiment. Besides, rising global crude prices impacted the domestic unit, forex traders said. However, a higher opening in the domestic equity market restricted the rupee's fall, they added.
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Chidambaram further said government has taken a number of fiscal and administrative measures from time to time to contain inflation especially food.
The domestic currency had gained seven paise on Friday.
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