The rupee plunged 20 paise to close at an all-time low of 78.13 against the US dollar on Monday, as a lacklustre trend in domestic equities and stronger greenback overseas weighed on investor sentiments. Forex traders said weak Asian currencies and persistent foreign capital outflows were the other major factors that dragged the local unit down. At the interbank foreign exchange market, the local currency opened at 78.20 and witnessed an intra-day high of 78.02 and a low of 78.29 against the US dollar.
After a day's respite, the rupee on Wednesday fell by 29 paise, its biggest single day fall in a week, to end at 56.73 today due to heavy dollar demand from importers amid renewed concerns over withdrawal of US monetary stimulus.
After three sessions of weakness, the rupee strengthened by 50 paise against the dollar.
The rupee weakened even as the dollar fell against major global currencies
Planning Commission deputy chairperson Montek Singh Ahluwalia talks about reorganising central loans to the states, in the second of a two-part interview with Mamata Singh.
The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows weighed on investor sentiment. Besides, rising global crude prices impacted the domestic unit, forex traders said. However, a higher opening in the domestic equity market restricted the rupee's fall, they added.
Going ahead iGate will have to maintain a healthy order book to sustain growth.
In its first bi-monthly policy, the RBI, in order to enhance hedging facilities for foreign investors in debt instruments, proposed to allow them to hedge the coupon receipts falling due during the next 12 months.
Further outperformance hinges on pickup in industrial activity, buying by local investors.
The headline inflation eased to a five-month low in December on lower vegetable prices, providing some relief to the ruling coalition before a national election and increasing the odds that interest rates will stay on hold this month.
Nifty continued to register successive new highs as it crossed the 9,200 mark on Friday
The rupee recovered by 15 paise at 65.49 against the US dollar.
The domestic unit had recovered to 68.65 in early trade on Friday as against Thursday's closing of 68.72.
Frantic dollar demand from corporates along with an aggressive hedging strategy adopted by importers in the wake of the currency volatility predominately took a toll on the domestic unit despite moves by the central bank to stabilise the currency.
There was fresh selling of the American currency by banks and exporters
The rupee strengthened by 14 paise to close at 66.41 against the US dollar on Wednesday.
Increased month-end demand for the US currency from importers put pressure on the rupee
The rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar on Monday, pressured by the strength of the American currency overseas and unabated foreign fund outflows. Forex traders said risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks. At the interbank foreign exchange market, the rupee opened lower at 77.17 against the greenback, and finally settled for the day at 77.50, down 60 paise over its previous close.
Currently, non-residents visiting India are not allowed to take out any Indian currency while leaving the country.
The rupee had dropped by 18 paise to end at 66.40
'When the gold price rises rapidly, India's physical gold market remains on standby.'
The rupee had lost 27 paise to close at more than 5-week low.
Silver advanced by Rs 150 to Rs 34,200 per kg on increased offtake.
The high-level meeting comes against the backdrop of the rupee touching a record low of 58.98 to a dollar on Tuesday.
Robust foreign capital inflows into upbeat domestic equity markets on the back of better macro fundamentals helped the rupee to gain
Weak dollar against other currencies overseas supported the rupee
Sensex gains 2.4%, Nifty crosses 7,000; investors feel exit polls have vindicated their stand
The rupee had shed four paise at 63.81 against the US dollar in Friday's trade on sustained demand.
While the fiscal year has just begun, any windfall surplus will be welcomed by the government as it bids to meet the fiscal deficit target of 5.9 per cent of GDP, amidst lack of clarity on exactly to what extent will recession in the West impact India's trade and tax collections.
In cross-currency trades, the rupee recovered sharply against the pound sterling to finish at 93.13.
The rupee appreciated by 0.27 per cent in June against the dollar.
Volatile currency market sentiment across Asia following a fresh round of China's yuan depreciation further added to gloom.
The rupee plunged by 28 paise to more than 2-month low of 66.47 against the US dollar on Monday.
Ending a four-day upmove, the rupee on Tuesday retreated four paise from its 11-month high levels to close at 58.63 against the dollar on fresh demand for the US currency from importers, amid some profit-booking in stocks.
The rupee had strengthened by 19 paise on Monday.
A massive rally in domestic equities along with smooth supply of dollars on the back sustained capital inflows into equities and debt predominantly helped the upmove
India's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion.
In line with rally in stocks, the Indian rupee on Monday appreciated for the second straight session and closed with a eight paise gain at a one-week high of 61.36 against the Greenback.
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.
The rupee on Thursday appreciated 20 paise to end at 62.37, its highest in two weeks, on positive trends in local equities and fresh dollar selling by exporters.
