The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets. The US dollar retreated from the two-decade high levels against a basket of six currencies which supported the rupee sentiment. At the interbank foreign exchange market, the local currency opened at 79.95 and witnessed an intra-day high of 79.82 and a low of 79.96 against the US dollar in the day trade. ,
Banks and importers preferred to increase their dollar position at the current level, a forex dealer said.
The dollar's strength against other currencies overseas limited the rupee's gain.
The rupee resumed higher at 67.77 per dollar as against last Friday's closing level of 67.78.
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
In the global market, dollar fell against most of its rivals on Monday.
Overseas, the US dollar hovered near a three-week low.
The rupee had plunged by 19 paise to close at over 3-week low.
The rupee on Thursday plummeted to an over three-month low of 63.32 by losing 50 paise against the US dollar.
The rupee hovered in a range of 63.75 and 63.84.
The rupee resumed lower at 64.20 per dollar.
On Friday, the rupee had lost 6 paise.
However, foreign capital inflows into equity market restricted the rupee's fall to some extent.
Indian rupee washed out initial losses against the greenback.
The rupee has dropped by 49 paise or 0.75 per cent in four days.
The rupee appreciated by 37 paise to 62.12 against the dollar in early trade on Monday.
The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.
The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up by 0.31 per cent at 97.52.
The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and firm American currency sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 82.68 against the greenback, then slipped further to 82.69, registering a fall of 39 paise over its previous close.
It moved in a range of 66.9250 and 66.70 per dollar during the day
The rupee is under pressure for the past one week.
On Tuesday, the rupee lost 9 paise to close at 66.67 against the US dollar.
Rupee closed at 61.86 against the dollar on Tuesday.
The dollar was weak against major world currencies.
Recovering from early losses, the rupee on Friday ended marginally higher at 64.81 against the US dollar.
The rupee had hit a record low of 68.85 in August 2013.
On Monday, the rupee had lost 14 paise to close at 66.62 against the US dollar.
The dollar index was trading lower by 0.03 per cent against its major global rivals today.
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
Therupee staged a smart rebound from its low towards the fag-end trade on dollar selling as well as suspected intrusion by the Reserve Bank to end steady at 63.39.
Snapping its two-day losing streak, the rupee on Monday bounced back by 9 paise to 66.67 against the US dollar.
The Indian rupee had lost 10 paise to close at 64 on Thursday.
The domestic currency had lost 15 paise to close at 63.82 on Wednesday.
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.
Dollar's weakness against other currencies in the global market made the local unit stronger.
The rupee had ended 11 paise higher at 62.20 on Tuesday.
Monday's morning trade sees increased selling of USD by exporters.
The rupee is seen weakening against dollar in current week.
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.
Strong foreign fund inflows, a weakening dollar and slipping oil prices propped up the local unit.
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