The rupee had plunged to close at its fresh two-year low of 66.84 against the dollar by falling 11 paise in Tuesday's trade.
On Thursday, the rupee jumped 50 paise to close at 62.67 against the Greenback on persistent selling of dollars by banks and hopes of capital inflows in view of a strong equity market.
The Indian rupee on Monday reacted downwards by 12 paise to log nearly one-week closing low of 63.41 against the Greenback.
V Vaidyanathan, former executive director at ICICI Bank who turned entrepreneur to run Capital First, an NBFC that caters to smaller businesses, tells Pavan Lall in an exclusive interview that his new entity post the merger of Capital First and IDFC Bank which will be called IDFC First will launch by January and cater to a new India with value services.
The dollar-rupee rate could move in the opposite direction if dollar policy rates rise and the FPIs sell in December, says Devangshu Datta.
Rupee was impacted by renewed dollar demand from banks and importers amid sharp falls in equity market
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
Unwinding of long-dollar positions by speculative traders and the currency's strong underlying fundamentals buoyed the home unit
Globally, gold fell by 1.32 per cent to $1,125.40 an ounce and silver by 3.98 per cent to $14.11 an ounce in New York in yesterday's trade.
A weak US dollar in overseas markets was the main reason for the rupee's rise even as losses in domestic stocks and some fag-end dollar demand from importers prevented further gains
The rupee strengthened by 14 paise to close at 66.41 against the US dollar on Wednesday.
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
There was mild selling of dollars by banks and exporters
The rupee had shed 13 paise to close at 64.04.
The rupee had dropped 15 paise or 0.22 per cent yesterday.
Sluggish domestic equities and persistent capital outflows largely pressurised the Indian unit
Reflecting nervousness over the prospect of the Federal Reserve tightening policy and event risk, traders stayed on the sidelines
The rupee has lost 32 paise, or 0.50 per cent, in five trading days
The 50-stock NSE barometer Nifty finished 14.75 points, or 0.14 per cent, down at 10,382.70 after shuttling between 10,340.65 and 10,393.15.
The rupee had lost 27 paise to close at more than 5-week low.
Silver also fell for the third day.
Fag-end selling of dollars by banks and exporters
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 recovered from initial losses against the American currency and was quoted higher by 6 paise to 62.00 on fresh selling of dollars by banks and exporters in view of strong foreign capital inflows into equity market.
The rupee had closed at 64.83 last Friday.
Weak dollar against other currencies overseas supported the rupee
The domestic currency had last ended at 64.17 per dollar.
Silver also recorded a sharp fall of Rs 1,000 to Rs 37,400 per kg.
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
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The BofAML report said that five year money can be raised by issuing the 7 to 9 per cent coupon bonds to stabilise markets, just as it was done in 1998 and 2001.
Rating agency Crisil said corporates, especially those in the auto, aviation, consumer durables and oil sectors, will be "severely impacted" by rupee depreciation due to large overseas debt and limited hedging.
The rupee ended weaker against the greenback on domestic worries.
Bombay Stock Exchange is working on trading in different categories like debts, interest rate derivatives, forex and power.
In cross-currency trades, the rupee recovered sharply against the pound sterling to finish at 93.13.
The dollar index was trading marginally higher by 0.06 per cent.
Strong rebound in local equities restricted the rupee's fall.
The country's current account deficit is likely to decline to 1.1-1.2 per cent of the gross domestic product in the third quarter, say rating agencies.
RBI might not cut rate on June 2 but will surely cut soon.
