Rupee climbs further to fresh nine year high of 39.785 against the US dollar
The US Fed kept its near-zero benchmark interest rate unchanged.
The rupee had last ended at better levels at Rs 45.7800/7850 per dollar on September 15, 2000.
Meanwhile, the rupee opened at Rs 46.11/12 per dollar and was quoted at Rs 46.1125/1225 in late morning deals, it changed little from overnight close of Rs 46.1150/1250.\n\n\n\n
The rupee on Monday tumbled against the US currency on a fresh wave of all-round dollar short-covering by banks, corporates and importers in the fairly active trade at the Interbank foreign exchange market.
The rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar on Monday, pressured by the strength of the American currency overseas and unabated foreign fund outflows. Forex traders said risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks. At the interbank foreign exchange market, the rupee opened lower at 77.17 against the greenback, and finally settled for the day at 77.50, down 60 paise over its previous close.
The domestic unit closed higher by 11 paise at 66.56 in Wednesday's trade.
The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 81.90 against the greenback, then fell to 81.93, registering a fall of 40 paise over its previous closing.
The rupee plunged 58 paise to close at an all-time low of 81.67 (provisional) against the US dollar on Monday as the strengthening of the American currency overseas and risk-averse sentiment among investors weighed on the local unit. Moreover, escalation of geopolitical risks due to conflict in Ukraine, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 81.47, then fell further to close at an all-time low of 81.67 against the American currency, registering a decline of 58 paise over its previous close.
Bouts of dollar demand from importers put pressure on the rupee
The rupee slipped by 4 paise to close at 77.59 (provisional) against the US dollar on Tuesday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.56 against the greenback, and finally settled at 77.59, down 4 paise over its previous close. During the trading session, the rupee touched an intra-day low of 77.67 and a high of 77.51.
The rupee rose by seven paise to 62.10 against the dollar.
A higher opening in the domestic stock market buoyed the rupee sentiment
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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.
Strength in the dollar against some other currencies overseas weighed on the rupee but a higher opening in the domestic equities cushioned the impact
Persistent selling of the American currency by exporters and bank supported the rupee
The rupee crashed further for the fourth straight session on Friday and nosedived by a whopping 56 paise due to persistent heavy dollar demand along with further rise in the US currency against other major world currencies.
Forex dealers said a higher opening in the domestic equity market and dollar's weakness against other currencies overseas after the US Federal Reserve kept its easing policy unchanged also supported the rupee.
The domestic unit had lost 7 paise to close at 66.87 in Tuesday's trade.
However, the US dollar's strength against other currencies overseas capped the rupee's gain
In New York, the dollar fell against other major currencies on Monday after a December reading on the US services sector came in below market expectations.
There was mild selling of dollars by banks and exporters
The rupee was hovering in a range of 66.65 and 66.89 in morning trade.
The rupee resumed higher at 59.10 per dollar as against the last Friday's closing level of 59.17 at the Interbank Foreign Exchange market.
The rupee had closed barely steady at 63.75 on Wednesday.
It hovered in a range of 63.57 and 63.70.
The local currency had surged 35 paise to 63.65 in Thursday's trade.
Banks and exporters preferred to reduce their dollar position on hopes of further capital inflows as foreign portfolio investors infused $107.22 million yesterday as per the record of Securities and Exchange Board of India.
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 depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
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.
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.
Lower crude oil prices and a rally in domestic equities restricted the losses to some extent, forex dealers said. At the interbank foreign exchange market, the domestic currency opened weak at 79.50 per dollar.
The partially convertible rupee was trading at 65.87/88 per dollar.
The industrial production grew by two per cent in September, mainly on account of better performance by power and mining sectors.
The rupee had plunged to close at its fresh two-year low of 66.84 against the dollar by falling 11 paise in Tuesday's trade.
The rupee had dropped 18 paise against the dollar on Thursday.
The rupee depreciated 20 paise to close at 63.84 in Monday's trade.
The rupee on Monday tumbled by 68 paise to close at a nearly 8-week low of 66.44 against the American currency.
A lower opening of the domestic equity market put pressure on the rupee.
