Falling for the second day, the rupee on Thursday weakened by 14 paise to close at 54.46 tracking losses in Indian stocks amid sustained dollar demand from importers.
The rupee appreciated for the second straight day to close 14 paise higher at 54.54 on optimism that government would get Parliamentary approval to FDI in multi-brand retail, leading to big inflow of dollars.
Strengthening of euro against the dollar in overseas market and a higher opening in the equity market supported the rupee.
Foreign institutional investors had pumped in $132.5 million (Rs 717.89 crore), according to provisional BSE data.
Bearish domestic equities restricted the rupee rise.
Fresh dollar demand from importers and some banks on the back of smart rise in the US dollar ahead of RBI monetary policy meeting on Tuesday also weighed on the rupee, said forex dealers.
The rupee gained 31 paise to close at 66.42 in Thursday's trade.
Extending losses for the third straight session, the rupee today lost 28 paise to end at an over one-week low of 53.50, due to sustained dollar demand from importers amid sluggish local stocks.
Sustained foreign funds did manage to arrest the fall to some extent.
Forex dealers said sustained foreign fund flows also aided the trading sentiment in rupee's favour.
The rupee had gained 49 paise yesterday to close at over 4-1/2-month high of 53.02 against the dollar on heavy selling of the American currency by exporters and some banks.
Weak dollar in the overseas market also boosted the rupee value against the dollar, a forex dealer said.
Forex dealers said a firm rise in local equities and sluggish dollar overseas also boosted the sentiment in rupee's favour.
Forex dealers said firm local equities, signs of consistent capital inflows and sustained dollar selling by exporters also boosted the rupee sentiment.
The rupee strengthened by 36 paise to 54.48 against the US dollar in early trade today at the Interbank Foreign Exchange on selling of American currency by exporters and banks.
The rupee rose by 11 paise to 53.36 against the US dollar in early trade at the Interbank Foreign Exchange today on continued selling of the American currency by exporters and banks.
The rupee on Thursday recovered by a hefty 60 paise to 53.24 against the US dollar in early trade on the Interbank Foreign Exchange market after the Reserve Bank tightened norms for utilisation of the foreign currency fixed deposit funds to check outflow of forex.
At the Interbank Foreign Exchange (Forex) market, the rupee resumed lower at 54.18 a dollar from previous close of 54.01.
Continued dollar selling by exporters and some banks on hopes of further fall in dollar value overseas also aided the rupee rise.
The rupee fell by 34 paise to 55.99 against the US dollar in early trade at the Interbank Foreign Exchange market today as the American currency gained against other currencies overseas.
In last three days, the rupee has fallen over 40 paise.
FIIs pumped in nearly Rs 340 crore in stocks today as perprovisional data on stock exchanges.
The rupee had ended 79 paise higher to close at 55.15 against the US currency in the previous session on Friday.
The US dollar index, which tracks the greenback against a basket of six major currencies, was 0.38 per cent lower at 95.41.
The rupee on Monday dropped by 30 paise to 54.72 against the US dollar in late morning trade, due to on fresh demand for the American currency from banks and importers despite a weak global trend.
Fresh demand for dollars from banks and importers in view of firm dollar in the overseas market mainly affected the rupee value against the US unit, a forex dealer said.
The rupee plunged to nearly 33-month low of sub-52 level after losing a whopping 81 paise against the United States currency on sustained dollar demand amid weak trends in stock markets and deepening euro-debt crisis.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
Stock markets opening with losses too put pressure on the domestic unit.
The dollar index surged to multi-year high.
Forex dealers said a higher opening in the domestic equity market also supported the rupee.
Sustained month-end demand from banks and importers weighed.
The rupee had gained 90 paise, or 1.34 per cent.
Strength in dollar against some other currencies overseas weighed on the rupee
The Indian rupee on Monday appreciated by 16 paise against the American currency in early trade on hopes of increased capital inflows from foreign funds boosted by last week's rally in the stock markets.
Besides selling of dollars by exporters, strength in other currencies against the American unit overseas also supported the rupee.
Forex dealers said increased demand for the dollar from importers also put pressure on the rupee.
A weakening dollar against other currencies overseas supported the rupee.
Forex dealers attributed the rupee's fall to increased dollar demand from importers amidst rising global crude prices
Falling for the first time in three days, the rupee washed out initial gains to end four paise lower at 62.57 today on caution ahead of US non-farm payrolls data and sustained capital outflows from Indian markets.
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