The rupee has depreciated by about 25 per cent in the past three months, from close to Rs 83 in mid-May, while it was even higher at about Rs 80 against the British Pound in March.
The rupee appreciated further on Thursday, adding 106 paise to 66.01 against the dollar, after steps taken by new Reserve Bank of India Governor Raghuram Rajan to attract US currency inflows boosted market sentiment.
In dull trade, the rupee on Monday ended a mere two paise lower at 60.20 against the US dollar on weak local equities and imported-driven demand for the American currency.
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
Weak equity markets too hit rupee sentiment
The rupee weakened even as the dollar fell against major global currencies
Firm equity market failed to restrict the rupee's fall against the dollar
Expectations of good foreign capital inflows into equity market in view of firm trend in the stock market also boosted the rupee value against the dollar.
The rupee hit a near 10-month high as an alliance led by pro-reform and business friendly Hindu nationalist Narendra was on course for an absolute majority.
The rupee declined marginally by 3 paise to 66.03 per dollar on fresh demand for the US currency from banks and importers.
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
Tracking local stocks, rupee on Tuesday regained 19 paise to end at 61.85 against dollar as reports of easing geopolitical tension between Russia and Ukraine helped emerging market currencies script a smart recovery.
The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions.
Forex dealers said dollar's weakness against other currencies overseas supported the rupee.
The rupee gained for the second day, climbing 23 paise to a one-week high of 62.07 against the dollar on Wednesday, amid a modest recovery in local stocks and sales of the US currency by exporters and banks.
However, the hefty initial gains of the rupee, which had jumped to 61.05 intra-day, were substantially erased on month-end demand for US dollars from private oil firms and some defence-related purchases, amid fall in domestic stocks.
The rupee had dropped 15 paise or 0.22 per cent yesterday.
Volatile currency market sentiment across Asia following a fresh round of China's yuan depreciation further added to gloom.
The rupee on Tuesday recovered from its two-week low to end steady at 66.60 against the American currency, inching up by a paisa on the back of mild dollar selling.
The local currency opened higher at 61.20 a dollar from the previous close of 61.30 at the Interbank Foreign Exchange Market.
The dollar index, which tracks the world's reserve currency against a basket of its peers, is down 0.16 per cent at 97.58.
Concerns related to capital outflows in the aftermath of the first US interest rate hike in nearly a decade predominantly weighed on the rupee trade.
The Indian rupee on Thursday appreciated by 12 paise to end at 66.71.
Hopes of more foreign funds on the back of sharp recovery in domestic equity market also boosted the value rupee against the dollar
The rupee plunged by 28 paise to more than 2-month low of 66.47 against the US dollar on Monday.
The rupee recovered by 15 paise at 65.49 against the US dollar.
The rupee had firmed up 16 paise to close at 67.52 on Thursday.
Domestic equity markets opened with losses which capped the rupee gains.
The rupee ended marginally lower by three paise at 66.36 against the US dollar.
The rupee slipped marginally by two paise at 66.43 against the US dollar on good demand
Fresh demand for the US currency from importers and banks alongside sustained capital outflows by foreign funds weighed on the local unit
The gains were capped due to month-end dollar demand from importers, mainly oil firms
The rupee had shed four paise at 63.81 against the US dollar in Friday's trade on sustained demand.
In forward market, premium for dollar declined in view of mild receivings from exporters.
The domestic unit moved in a range of 64.14 and 63.99.
Rupee was impacted by renewed dollar demand from banks and importers amid sharp falls in equity market
The rupee had lost 27 paise to close at more than 5-week low.
The dollar maintained its bullish momentum in Asian and early European trade
The $5.7 billion total includes $1.6 billion in fines separately imposed by the US Federal Reserve on the five banks.
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