Increased demand for the dollar from importers affected the value of the rupee
Financial shares were the top losers.
A weak dollar in overseas market boosted the rupee sentiment
The rupee appreciated by 37 paise to 62.12 against the dollar in early trade on Monday.
Firm equity market failed to restrict the rupee's fall against the dollar
The interbank foreign exchange (forex), call money markets, cotton, metals, sugar and future trading in castor seeds will remained officially closed on Friday on the occasion of Ramnavami.\n\n\n\n
The rupee extended gains for the fourth straight day against the US currency on Thursday.
It moved in a range of 66.9250 and 66.70 per dollar during the day
The local currency had shed 2 paise to close at 63.44 on Tuesday.
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 rupee had closed at 64.83 last Friday.
Corporate earnings in this quarter may take a hit on account of the equity exposure that companies may have taken following a bad quarter for the Indian markets, say market analysts.
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.
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 ended weaker against the greenback on domestic worries.
The currency lost six paise on sustained dollar demand from importers.
The RBI fixed the reference rate for the dollar at 63.8061 and for the euro at 69.6571.
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).
The rupee closed almost flat at 65.76 against the US dollar on some demand for the American currency from banks.
'With the current situation in the global job market, students come back with an added burden of educational loans.'
The dollar was weak against major world currencies.
Markets ended at record closing highs for the second day in a row on institutional buying.
Markets extended losses and were down 1.5% each in late noon trades with bank shares leading the decline after the RBI mooted extra provisioning and capital requirement for banks' exposure to companies with unhedged forex exchange positions.
The NSE Nifty ended 55.75 points, or 0.57 per cent, higher at 9,912.80 after moving between 9,925.75 and 9,882.
Recovering from early losses, the rupee on Friday ended marginally higher at 64.81 against the US dollar.
The report said that "we believe, institutions are more important than individuals" and ultimately what is important is the credibility and the independence of any institution and nothing else.
The rupee fell because of fresh demand for dollar from importers.
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
Bajaj Auto was the top laggard in the Sensex pack, tumbling around 6 per cent, followed by M&M, Reliance Industries (RIL), Tata Steel, Tech Mahindra, SBI, Axis Bank and ICICI Bank. NSE Nifty tumbled 162.60 points or 1.36 per cent to 11,767.75.
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 rupee had shed 10 paise to close at 66.14.
Monday's morning trade sees increased selling of USD by exporters.
The rupee closed at Rs 66.21 in its last trading session.
Reliance is in the market with a benchmark issue to sell 30-year US dollar-denominated Reg S fixed rate senior unsecured notes.
ICICI Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by Axis Bank, HDFC twins, SBI, L&T, ONGC and Infosys. On the other hand, Sun Pharma, Asian Paints, Nestle India, UltraTech Cement and HUL declined. NSE Nifty rose by 79.60 points or 0.67 per cent to 11,914.20.
The rupee gained 28 paise on Thursday to close at 62.50.
Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
Government is also will also enter into an agreement with Japan for a $50 billion swap.
Rupee ends day at 61.91 against the US dollar.
The domestic currency had lost 10 paise to close at 59.03 against the dollar in Thursday's trade amid capital outflows linked to fall in equities.
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