The Rupee is 3.7 per cent undervalued on trade related basis.
Analysts expect the central bank to remain watchful of inflation.
Bajaj Finserv, Infosys, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India and HCL Technologies were the biggest gainers. On the contrary, Asian Paints, JSW Steel, NTPC and Adani Ports were among the laggards.
Weak dollar in the overseas market also boosted the rupee value against the dollar, a forex dealer said.
The Indian rupee today dipped to a two-year low of 46 against the US dollar following heavy demand from importers for the greenback.
'...you evaluate three key factors before committing your money.'
This is rupee's lowest since 62.32 on January 9.
On Bhagat Singh's 117th birth anniversary, Utkarsh Mishra recounts fascinating incidents from the legend's life.
Cautious optimism over US-China trade talks after US President Trump said his trade negotiators had received two "very good calls" from Beijing also influenced the local currency, dealers said.
The ballooning of crude prices has significantly increased the country's oil import bill and it can also lead to a worsening of the current account deficit and fiscal deficit for the domestic economy.
The global brokerage firm further said that BoP would be INR-supportive.
India's exports are unlikely to get an immediate boost from a depreciating rupee, which touched an all-time low on Monday, driven by rising commodity prices. The rupee fell to 76.97 against the dollar earlier in the day, settling 1.05 per cent weaker than the previous close. Oil prices soared to their highest since 2008 on Monday at $139 per barrel, after the US and European allies explored a Russian oil import ban, while delays in the potential return of Iranian crude oil to global markets increased supply fears.
The rupee had closed at 64.83 last Friday.
The dollar index was down by 0.16 per cent against its six major global rivals.
The rupee depreciated further by 7 paise to 65.12.
Dealers said the sharp recovery of the rupee was because of restrictions imposed by the RBI on forward trading in the local currency by foreign institutional investors and traders, besides the cap fixed on banks' exposure to the forex market.
Rupee ends at 61.89 against the dollar, falls for second straight day.
But gains in the rupee were kept in check as domestic shares faltered, ending a five-session gain.
The rupee resumed lower at Rs 50.40/41 per dollar on the Interbank Foreign Exchange.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
As the value of rupee vis-a-vis the dollar rises, the cost of travelling abroad comes down.
The rupee closed marginally stronger against the dollar on Wednesday.
Increased demand for the dollar from importers put pressure on the rupee.
'Global investors expect the rupee to be more vulnerable in the downturns in the future than ever before,' notes Apoorva Javadekar.
Analysts say that the rupee trajectory, going ahead, will be a function of flows.
In the global markets, the euro was under pressure against the US dollar yesterday, dragged lower as European monetary policy officials indicated willingness towards supporting more stimulus measures to aid the regional economy.
The Indian rupee on Wednesday ended unchanged against the US dollar at 61.41 ahead of the outcome of US Federal Reserve's policy meeting.
Data late on Wednesday showed consumer price inflation eased more than-expected to a 25-month low of 8.10 per cent in February, while industrial output unexpectedly expanded, albeit only by 0.1 per cent.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
Travel companies are reducing the number of days from packages to make it more affordable for globe trotters.
As Kolkata marches towards modernity, it is hard to imagine its streets without these cabs, notes Air Commodore Nitin Sathe (retd).
Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.
Traders are now focussed on the upcoming November trade data, due sometime this week, for near-term direction, with consumer inflation data due out on Thursday, which will help set expectations ahead of the Reserve Bank of India's policy review on December 18.
India's external debt rose marginally to $629.1 billion at June-end 2023, although the debt-GDP ratio declined, according to a Reserve Bank data released on Thursday. The debt rose by about $4.7 billion from $624.3 billion at March-end. "The external debt to GDP ratio declined to 18.6 per cent at end-June 2023 from 18.8 per cent at end-March 2023," RBI said.
The domestic currency moved in a range between Rs 53.03 and Rs 53.24 per dollar during morning deals.
The recent 'revelation' by TN fishers freed by Sri Lanka after they had paid up Lankan rupees 50,000 each in fines, that their hair was tonsured in prison and they were forced to remove their garments other than the underpants, and were also made to clean toilets, as if with vengeance, has touched a raw nerve this time, just as another issue or issues had done it ahead of the Jallikattu protests, observes N Sathiya Moorthy.
The rupee had gained nine paise to close at nearly one- month high of 61.84 against the dollar in yesterday's trade after the government said in the interim Budget that fiscal deficit this financial year will be capped below target.
Indian currency notes will soon bear the rupee symbol. It will also have extra security features.
The rupee resumed higher at 60.13 per dollar as against the last closing level of 60.20 at the Interbank Foreign Exchange market, and hovered in a range of 60.07 and 60.18 per dollar before quoting at 60.08 at 1000 hours.
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