The partially convertible rupee closed at 60.30/31 per dollar compared with 60.28/29 on Friday.
Gold slips by Rs 150 on low demand.
In New York Market, the US dollar rose against the Australian dollar on Tuesday as gold futures dropped more than two per cent and investors anticipated Chinese data that is likely to show a slowing of growth.
Forex dealers said besides the dollar's gains against other currencies overseas, increased demand from importers for the American unit put pressure on the rupee but a higher opening in the domestic equity market capped losses.
Auto stocks are weighing on the indices.
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
At the Interbank Foreign Exchange market, the domestic unit commenced higher at 61.80 a dollar from previous close of 61.92.
Even the persistent rise in equity market failed to restrict the rupee's fall.
The tea industry, hit by rising costs, falling prices and political unrest in the North Bengal plantations, is especially vulnerable to the COVID-19 lockdown.
Traders also say oil-related dollar demand is capping broader gains in the rupee.
The time is nigh for India to ensure that investment by its former citizens is encouraged by protecting their rights, says C B Patel.
Traders said lack of buying support from retailers and jewellers who preferred to keep their activity restricted, anticipating further fall in coming days, mainly kept gold prices unchanged.
Markets have gone into a tailspin, the Modi govt must revive investment sentiment.
RBI, Enforcement Directorate to see if money was sent to tax haven
The rupee has lost 37 paise or 0.55 per cent in two days.
In worldwide trade, the American dollar traded with solid strength against all major emerging currencies
The rupee recovered by three paise to close at 67.65 on fresh selling of dollars by banks and exporters amidst a recovery in equities.
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Analysts worry that without more fundamental reforms, India will struggle to contain its record high current account deficit and hence support the rupee.
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The rupee gained 28 paise on Thursday to close at 62.50.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
India's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion.
The government will release the Index of Industrial Production for July 2015 on Friday, September 11, 2015.
In recent sessions, shares have rallied on hopes Hindu nationalist opposition leader Narendra Modi, a more business-friendly candidate, is seen coming to power on promises of economic revival and jobs.
FII stance, progress of monsoon, crude oil and rupee movement are likely to dictate the trend.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
'Prime Minister Modi doesn't talk to me. He meets and says in monosyllables'
Volatile currency market sentiment across Asia following a fresh round of China's yuan depreciation further added to gloom.
Asia-focused bank Standard Chartered has extended its sponsorship of Liverpool Football Club for two years, continuing one of the most lucrative deals in English sport.
The S&P BSE Midcap and the S&P BSE Smallcap indices slipped in red to shed over 1% each
The currency fell 3.4 per cent this week, and is below the levels at which it was trading on July 15 when the Reserve Bank of India unveiled its cash tightening steps to defend the currency.
Rupee is under pressure against the dollar say currency watchers.
The domestic unit moved in a range of 64.14 and 63.99.
Traders said good dollar demand from importers including oil companies was seen at stronger rupee levels, limiting any further gains.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
IIP for November 2015 and CPI for December 2015 will be announced today.
Oil tanked to a 7-year low as OPEC decided to maintain production.
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The government on Tuesday announced hikes in import duties for gold and silver, but it has yet to unveil other details such as its plan to tax imports of non-essential items.
Ten trade unions with a combined membership of 15 crore workers in public and private sector, including banks and insurance companies, are on a nationwide strike to protest against changes in the labour laws.
Traders said besides stockists selling, a weakening global trend where gold posted its biggest decline in almost seven months as Portuguese banking concerns eased and equities gained, diminishing safe-haven demand.
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