Rupee hits more than two-year low; RBI intervenes
A higher opening in the domestic equity market influenced uptrend.
The rupee bounced back by four paise to close at 65.27 per dollar on fresh selling of the American currency by banks.
The rupee had plummeted to over three-month low of 63.32.
Rupee rises by 16 paise against dollar on fresh selling.
Dollar gained against major currencies overseas.
The rupee extended gains for the fourth straight day against the US currency on Thursday.
The rupee recovered marginally at close against the dollar.
Continuing its range-bound movement for the fourth session, the rupee today closed up by two paise at 59.25 ahead of industrial output and retail inflation data.
The rupee gained 28 paise on Thursday to close at 62.50.
Earlier, the rupee resumed slightly lower at 61.70 per dollar as against Tuesday's close of 61.69 at the Interbank Foreign Exchange market.
The rupee appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters.
A lower opening at the domestic equity market and the dollar's rise against other major currencies overseas also put pressure on the rupee, dealers said.
The rupee hit a near 10-month high as an alliance led by pro-reform and business friendly Hindu nationalist Narendra was on course for an absolute majority.
The Indian unit opened sharply higher at 64.80 as against Wednesday's closing level of 65.12.
The rupee had shed four paise at 63.81 against the US dollar in Friday's trade on sustained demand.
The rupee had lost 10 paise to close at 21-month low of 64.26 against the greenback in Tuesday's trade.
Falling for the fourth day in succession, the rupee today dipped by 23 paise to close at nearly three-week low of 59.38 against the dollar amidst the RBI announcing an SLR cut that is expected to release nearly Rs 40,000 crore into markets.
The rupee on Tuesday weakened by 15 paise to close at 63.30 against the US currency
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 Indian rupee on Tuesday ended marginally higher against the American currency at 61.41 amid volatile trading on the back of a higher dollar overseas.
Rupee ends day stronger against the dollar.
The dollar's weakness against rivals overseas supported the rupee.
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.
Weakness in the dollar against some currencies supported the rupee.
The rupee extended gains for the second straight session against the US currency by firming up 21 paise to close at 64.82 a dollar.
In the global market, the US dollar index, which tracks the greenback against a basket of six major rivals, was up by 0.33 per cent.
The domestic currency has already dropped 44 paise, or 0.67 per cent, in the previous two sessions.
The domestic currency had last touched 65-level and ended at 65.24 on September 6, 2013. It moved in a range of 64.63 and 65.23 during the day.
The rupee weakened by 27 paise to trade at six-week low of 60.45 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
The rupee on Wednesday snapped its two days of losses and edged up two paise to end at 59.27 against the dollar following late selling of the US currency by exporters.
The rupee continued to rule firm against the dollar for the second consecutive day.
The rupee closed marginally stronger against the dollar on Wednesday.
Rupee has gained by 15 paise or 0.24 per cent in two days.
Extending its losing streak for the fourth straight day, the rupee weakened by five paise to 61.01 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
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.
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 extended its fall for the fourth consecutive day by losing another 6 paise to hit a fresh one-month low of 62.31.
Rupee down 13 paise to 66.72 against dollar
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