The rupee fell by 49 paise to close at 81.89 (provisional) against the US dollar on Monday as heavy selling pressure in the domestic equities and a spike in crude oil prices weighed on the local unit.
The rupee snapped 2-day rise to end weaker against the dollar on Thursday.
The rupee had ended 11 paise higher at 62.20 on Tuesday.
The rupee rose by 4 paise at 66.88 against the US dollar in early trade on Wednesday.
Dealers attributed the fall to the dollar's gains after China devalued yuan, which pushed up demand from importers for the US currency.
The Indian rupee on Monday reacted downwards by 12 paise to log nearly one-week closing low of 63.41 against the Greenback.
India's banking system is expected to remain unscathed from the troubles in Credit Suisse as it has a very small presence in the country, experts said. Although Credit Suisse is more relevant to India's financial system than Silicon Valley Bank (SVB), it has very limited operations, according to a report by Jefferies India. The Switzerland-based bank, the report said, "has less than Rs 20,000 crore in assets (12th among foreign banks), presence in the derivatives market and funded 60 per cent of assets from borrowings, of which 96 per cent are up to two months.
Hit hard by the appreciating rupee, exporters on Wednesday sought immediate remedial measures like pegging of dollar exchange value at 45 even as they threatened to stop exports from May 1.
The RBI has hiked repo or short-term lending rate up by 0.25 pc to 7.75 pc.
The rupee is seen weakening against dollar in current week.
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
The Rupee is seen weakening further against the dollar.
Strong foreign fund inflows, a weakening dollar and slipping oil prices propped up the local unit.
After a technology upgrade, the Multi Commodity Exchange of India (MCX) appears poised for an improvement in volumes. The premier commodity and forex exchange reported a loss of Rs 19.1 crore in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). This was attributed to higher software charges payable under an extended service agreement with 63 moons technologies and a one-off cost towards core guaranteed funds (CGF).
It is thought that the RBI has been accumulating dollars to fight odds.
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'With the current situation in the global job market, students come back with an added burden of educational loans.'
The broader Nifty, after struggling, also managed to end above the 10,200-level.
Rupee ended weak against the dollar.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
The rupee had shed one paise to end at one-month low of 61.74 against the US dollar in Tuesday's trade.
The rupee recovered by 13 paise to close at 66.31 per dollar on fresh selling of dollars by banks and exporters despite fall in equity market.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
HDFC Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by Kotak Bank, Bajaj Finserv, Maruti, Titan, SBI, HUL, HDFC and Tata Steel. On the other hand, Bharti Airtel, M&M, NTPC, Tech Mahindra, Sun Pharma and PowerGrid were among the gainers.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
The rupee opened slightly higher by Rs 67.24 against Tuesday's closing level of Rs 67.26 per dollar.
The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was sharply higher by 0.62 per cent at 93.96.
Rupee falls 5 paise against dollar, ends at 61.92.
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
Extending losses for the fourth straight session, Indian rupee on Monday declined by ten paise to log over 13-month closing low of 63.67.
The broader NSE Nifty closed below the 10,200-mark by slumping 99.85 points, or 0.98 per cent at 10,124.905.
The rupee closed marginally stronger against the dollar on Wednesday.
Email alarm made government close arbitrage window
The RBI opened a forex swap window in August to meet the entire daily dollar requirements of three oil marketing companies as the rupee depreciated to an all-time low of 68.85 against the US currency.
Spurting by a whopping 21 paise, the rupee scaled a fresh over 50-1/2-month closing peak at Rs 43.53/54 per dollar on Wednesday.
The rupee on Monday failed to maintain initial gains and ended lower by five paise at 60.21 against the dollar on fag-end demand for the US currency from banks and importers.
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