The rupee on Thursday appreciated 20 paise to end at 62.37, its highest in two weeks, on positive trends in local equities and fresh dollar selling by exporters.
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Snapping a two-day fall, the rupee opened strong at 59.49 a dollar from the previous close of 59.76 at the Interbank Foreign Exchange Market and then touched a low of 59.59.
Weakness in dollar in the overseas market also boosted the rupee value
Sluggish domestic equities and persistent capital outflows largely pressurised the Indian unit
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The rupee bounced back from a one-month low to post its first gain in the New Year, rising 10 paise to close at 62.16 against the dollar after the RBI was said to have sold the US currency.
A massive outflows of foreign funds on the back of stricter participatory notes and renewed possibility of Fed lifting US interest rates largely impacted the domestic unit.
Consistent capital inflows and a recovery in local equities helped the local unit to trim initial losses
Fresh dollar demand from banks and importers amidst volatile equities triggered the fall
The rupee gained for the second day, adding 32 paise to close at a fresh two-month high of 61.07 against the dollar amid a rise in local equities and sustained capital inflows.
Forex traders said a stronger dollar also dragged the rupee down.
The domestic currency tumbled by 45 paise or 0.68 per cent in two days.
The Indian unit opened higher at 66.10 per dollar as against overnight level of 66.30 at the Interbank Foreign Exchange market and firmed up further to 66.04 on initial dollar selling.
The rupee recovered 14 paise to 66.40 against the dollar in early trade on Monday.
The Indian unit opened sharply higher at 64.80 as against Wednesday's closing level of 65.12.
However, FII outflows of Rs 545 crore (Rs 5.45 billion) capped the gains in the rupee, which had slumped by 126 paise in past two days.
Banks and exporters preferred to reduce their dollar position in view of its weakness.
A weak US dollar in overseas markets was the main reason for the rupee's rise even as losses in domestic stocks and some fag-end dollar demand from importers prevented further gains
A weak dollar sentiment across the board alongside unwinding of long positions by speculative traders ahead of key US macro data release largely supported the rupee
Extending losses for the second straight day, the rupee declined by 11 paise to close at more than 3-week low of 66.93 against the US dollar.
The rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
The dollar index was trading higher by 0.06 per cent against its major global rivals today.
Good foreign capital inflows failed to restrict the rupee's fall against the dollar
Dealers attributed the rupee's fall to increased demand for the US currency from importers.
The rupee continued to rule firm against the dollar for the second consecutive day.
The rupee ended lower by 7 paise to 62.31 against the American currency on fresh dollar demand from banks.
The rupee snapped its two-day winning run against the dollar.
The rupee had lost 10 paise to close at 21-month low of 64.26 against the greenback in Tuesday's trade.
Forex dealers said rebound in domestic stock markets also helped the rupee strengthen against the dollar.
Overall forex market sentiment remained cautious
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The newly-appointed Governor Raghuram Rajan said on Wednesday Reserve Bank of India will offer a window to banks to swap the fresh FCNR-B dollar funds, mobilised for a minimum tenor of three years and over, at a fixed rate of 3.5 per cent per annum. According to Bank of America Merrill Lynch, "the move should fetch $8-10 billion", adding that the move would help in shifting rupee risks away from NRIs at a time of extreme volatility.
Rupee is under pressure against the dollar say currency watchers.
Robust foreign capital inflows into upbeat domestic equity markets on the back of better macro fundamentals helped the rupee to gain
Snapping its two-day gains, the rupee on Monday declined by 48 paise to settle at nearly four-week low of 62.17 against the US currency.
The rupee had slumped to its all-time closing low of 68.80 a dollar on August 28, 2013.
Rising for the second session, the Indian rupee on Thursday climbed by 50 paise to nearly four-week high of 62.67 against the greenback on persistent selling of dollars by banks and hopes of capital inflows in view of a strong equity market.
Fresh dollar selling by banks and exporters largely helped the home currency to recover from early losses
The domestic currency had gained by 80 paise, or 1.19 per cent, in previous five trading days.
Reflecting nervousness over the prospect of the Federal Reserve tightening policy and event risk, traders stayed on the sidelines
Forex dealers said besides dollar's gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
The Indian rupee resumed sharply lower at 66.65 per dollar against last Friday's level of 66.48.
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