The Indian markets have delivered high long-term returns, second only to the US.
The rupee had dropped by 18 paise to end at 66.40
The rupee depreciated further by 7 paise to 65.12.
Rupee fell to its 9-month low of 62.03 against the dollar.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
Weak equity markets too hit rupee sentiment
The rupee has gained by 21 paise or 0.31 per cent in last two days
The rupee snapped 2-day rise to end weaker against the dollar on Thursday.
The rupee had lost 10 paise to close at 21-month low of 64.26 against the greenback in Tuesday's trade.
The rupee extended gains for the fourth straight day against the US currency on Thursday.
The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024. "The actual benefit for banks from the inclusion in JP Morgan's EM Index will accrue from June 2024 onwards. "Until then, the larger fundamentals of the market will dictate the moves. "Once the initial euphoria subsides, bond markets will look to global cues which may trigger fresh selling," said Siddharth Khemka, head of retail research, Motilal Oswal Financial Services.
The domestic unit had recovered to 68.65 in early trade on Friday as against Thursday's closing of 68.72.
The RBI fixed the reference rate for the dollar at 64.1505 and for the euro at 72.2720.
The immediate concern for the rupee is the sharp spike in oil prices
Macroeconomic data announcements, global factors and trading activity of foreign investors would be the key triggers for the domestic stock markets this week, analysts said. Last week, the benchmark indices joined the broader market's party despite a host of negative global cues. In the broader market, the BSE midcap and smallcap gauges hit their all-time highs on Friday.
A smart rebound in the stock market and sustained capital inflows restricted the rupee loss
The rupee snapped its two-day winning run against the dollar.
Rupee ends day at 61.91 against the US dollar.
Fresh demand for the US currency from importers and banks alongside sustained capital outflows by foreign funds weighed on the local unit
The US currency's decline against major world currencies alongside fag-end dollar supply largely helped the rupee recoup some of its initial losses
The Indian rupee resumed sharply lower at 66.65 per dollar against last Friday's level of 66.48.
Persistent fall in crude oil prices affected the market sentiment
Dealers attributed the rupee's fall to increased demand for the US currency from importers.
The Indian rupee on Monday reacted downwards by 12 paise to log nearly one-week closing low of 63.41 against the Greenback.
Heavy offloading by foreign portfolio investors also weighed on the rupee
Kotak Bank was the top loser in the Sensex pack, falling over 4 per cent, followed by IndusInd Bank, Axis Bank, ONGC, HDFC Bank, Bajaj Auto and Reliance Industries.
The rupee had shed one paise to end at one-month low of 61.74 against the US dollar in Tuesday's trade.
Rupee has gained by 15 paise or 0.24 per cent in two days.
Novice investors must understand that volatility is an inherent part of equity markets and learn to navigate through such phases.
In worldwide trade, the American dollar traded with solid strength against all major emerging currencies
A weak dollar overseas also aided the rupee rise while fresh sell-off by foreign funds in domestic stocks capped the currency's gains, forex dealers said.
The rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
The rupee continued its downslide for the second session in a row, depreciating by 20 paise to close at more than one-week low of 62.51 against the greenback.
The rupee added another 8 paise to end at 61.23 against the dollar, the highest level in more than two weeks, as the US currency traded stable ahead of the outcome of Federal Reserve's meeting today and as domestic shares surged to a record.
The rupee extended its losses and slumped 10 paise to close at a record low of 77.72 (provisional) against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.72 against the greenback, and finally settled for the day at 77.72, down 10 paise over its previous close. During the trading session, the rupee touched an intra-day low of 77.76 and a high of 77.63.
In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
A weak dollar in overseas market boosted the rupee sentiment
The rupee on Tuesday gained 29 paise to close at seven-month high of 60.48 against the dollar on sustained selling of the US currency by exporters and banks.
In 2022, gold emerged as the top performer among all conventional asset classes with over 14 per cent returns mainly owing to the depreciation of the rupee.
