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.
The domestic currency has tumbled by 104 paise, or 1.63 per cent, in last six trading days.
Increased demand for the American unit from importers weighed on the rupee
It moved in a range of 63.54 and 63.81 per dollar during the day.
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 dollar was firm against some global currencies which also weighed on the rupee.
The rupee had plunged by 19 paise to close at over 3-week low.
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.
A weak dollar in overseas market boosted the rupee sentiment
Bouts of month-end dollar demand from banks and importers hit the rupee
The dollar index was down by 0.02 per cent against a basket of six major currencies.
The US dollar index, which measures greenback's strength against a trade-weighted basket of six major currencies, was up 0.14 per cent at 96.74.
Firm equity market failed to restrict the rupee's fall against the dollar
Rupee weakened by 10 paise to end at 66.14 against the dollar due to month-end demand from importers and banks.
Overall forex market sentiment remained cautious
The dollar index surged to multi-year high.
The local currency had surged 18 paise to 63.64 in Thursday's trade.
The rupee edged higher by three paise to 66.46 against the US dollar in early trade on Wednesday.
The rupee had lost three paise to hit two-month closing low of 66.80.
The home currency failed to keep momentum going and largely traded in a narrow range with positive bias in the absence of any market moving factors
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.
Rupee is under pressure against the dollar on weak cues.
The rupee on Monday continued its upward march against the US dollar for the third day, firming up by another 10 paise to 66.00 on fag-end selling of the American currency by banks and exporters.
Overseas, the US dollar hovered near a three-week low.
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.
The rupee had gained two paise to close at one-month high of 62.14 against the dollar in Tuesday's trade.
The rupee had dropped 15 paise or 0.22 per cent yesterday.
On Monday, the rupee had moved up by 3 paise.
A fresh demand for the US currency from importers weighed on rupee.
A higher opening in the domestic equity market influenced uptrend.
Weakness of dollar in the overseas market also boosted the domestic currency, a forex dealer said.
In cross-currency trades, the rupee firmed up further against the pound sterling
The rupee had gained 28 paise against the American currency to settle at nearly two-month high at 66.74 in Monday's trade.
Falling for the third day, Indian rupee on Wednesday weakened by 14 paise to close at over one-week low of 62.02 against the Greenback.
The rupee had depreciated by 13 paise to end at 67.20.
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.
Dollar's weakness against other currencies in the global market made the local unit stronger.
The rupee on Thursday surged by 22 paise to close at a fresh three-week high of 61.75 against the US currency.
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