Firm equity markets and foreign capital inflows failed to restrict rupee's fall against the dollar
The rupee opened slightly higher by Rs 67.24 against Tuesday's closing level of Rs 67.26 per dollar.
The rupee firmed up by 15 paise to close at 62.36 per dollar on fresh selling by banks
Strong rebound in local equities restricted the rupee's fall.
The domestic currency moved in a range between Rs 53.03 and Rs 53.24 per dollar during morning deals.
The rupee resumed lower at Rs 52.80/81 per dollar on the Interbank Foreign Exchange, against its previous close of Rs 52.71/72 per dollar.
Sensex crashed more than 1,000 points in opening trade. Asian stocks plunged too on Friday.
In fairly active trade at the Interbank Foreign Exchange (forex) market, the local currency resumed firm at 39.32/34 a dollar from yesterday's close of 39.44/45 a dollar and later surge to 39.31 level on the back of heavy capital inflows into equity.
The Bombay Stock Exchange and the National Stock Exchange will remain closed on Thursday, it was officially announced.
Rupee is likely to remain under pressure due to domestic concerns.
The domestic currency had last ended at 64.17 per dollar.
On Tuesday, the rupee closed lower by 13 paise at 67.27.
The rupee had shed 9 paise to end at 64.13 on Friday.
The domestic unit closed lower by 6 paise at 66.71.
The rupee had snapped its 3-day losing streak on Thursday.
Bearish dollar overseas also supported the rupee
Weak equity markets too hit rupee sentiment
A weak dollar in overseas markets also strengthened the rupee sentiment
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.
Sustained rise in equity markets in view of progress in monsoon mainly boosted the rupee value against the dollar.
Extending losses for the second straight session, the rupee slipped by 11 paise at 66.54 against the US dollar.
The rupee on Monday tumbled by 68 paise to close at a nearly 8-week low of 66.44 against the American currency.
The rupee is under pressure for the past one week.
The Indian rupee had lost 10 paise to close at 64 on Thursday.
Increased demand for the American unit from importers weighed on the rupee
The dollar's strength against other currencies overseas limited the rupee's gain.
The rupee rose by 4 paise at 66.88 against the US dollar in early trade on Wednesday.
The rupee ended steady against the American currency at 66.19 per dollar at the Interbank Foreign Exchange here today in view of steady dollar in the overseas market.
It moved in a range of 63.54 and 63.81 per dollar during the day.
The domestic currency has tumbled by 104 paise, or 1.63 per cent, in last six trading days.
The rupee bounced back by 10 paise to end at 68.62 on Friday.
The rupee resumed higher at 67.77 per dollar as against last Friday's closing level of 67.78.
A weak dollar overseas supported the rupee sentiment.
The tightness in the liquidity situation escalated on Friday, with the interbank call money rates jumping the highest in six years to close at 19 per cent. The rates had touched 25 per cent intra-day.
The rupee had plunged by 19 paise to close at over 3-week low.
The dollar was firm against some global currencies which also weighed on the rupee.
The rupee on Tuesday lost another 15 paise against the US dollar to close at 65.88
The rupee on Friday bounced back 32 paise to close at 64.74 against the American currency on fresh selling of dollar.
In a quiet trade at the Interbank Foreign Exchange (Forex) market, the local currency resumed firm at 39.46/48 a dollar from Wednesday's close of 39.5450/5500 a dollar, but later trimmed gains at 39.49/50 per dollar in late morning deals. It swung in a range of 39.46 and 39.53 in early trade.
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.
