The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets. The US dollar retreated from the two-decade high levels against a basket of six currencies which supported the rupee sentiment. At the interbank foreign exchange market, the local currency opened at 79.95 and witnessed an intra-day high of 79.82 and a low of 79.96 against the US dollar in the day trade. ,
Dollar's strength against some currencies overseas and firming crude oil prices also put pressure on the rupee, dealers said.
The rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite. Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
The rupee gained 31 paise to close at 66.42 in Thursday's trade.
The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.
Stock markets opening with losses too put pressure on the domestic unit.
Forex dealers said a higher opening in the domestic equity market also supported the rupee.
Sustained month-end demand from banks and importers weighed.
The rupee had gained 90 paise, or 1.34 per cent.
Strength in dollar against some other currencies overseas weighed on the rupee
Besides selling of dollars by exporters, strength in other currencies against the American unit overseas also supported the rupee.
Besides, a higher opening in the domestic equity market and gains in other Asian currencies against the dollar also supported the rupee.
Dealers attributed the rupee's fall to increased demand.
Forex dealers said increased demand for the dollar from importers also put pressure on the rupee.
A higher opening in the domestic equity market influenced the rupee uptrend
A weakening dollar against other currencies overseas supported the rupee.
The rupee on Thursday plunged by a whopping 130 paise to hit life-time low of 60 against the US dollar in early trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers
Forex dealers attributed the rupee's fall to increased dollar demand from importers amidst rising global crude prices
Falling for the first time in three days, the rupee washed out initial gains to end four paise lower at 62.57 today on caution ahead of US non-farm payrolls data and sustained capital outflows from Indian markets.
In line with equity market, the rupee trimmed its initial losses but was quoted still lower by 17 paise on dollar demand from banks and importers despite weakness of the US currency overseas.
Fresh demand for the American unit from importers put pressure on the rupee.
On Tuesday, the rupee had gained 10 paise to close at 66.52.
Dealers said besides increased dollar selling by exporters, a higher opening in domestic equity market and yen's gain against the American currency overseas helped the rupee to recover.
Fresh demand for the American unit from importers put pressure on the rupee.
Nifty futures traded in Singapore were trading down 0.8 percent in line with other emerging Asian markets.
Dollar's weakness against some other currencies overseas supported the rupee.
Weak domestic shares and foreign institutional investors' selling about 39 billion rupees of index futures in the last four trading sessions weighed on the rupee, dealers said.
The US dollar index, which tracks the greenback against a basket of six major currencies, was 0.38 per cent lower at 95.41.
At the Interbank Foreign Exchange market, the domestic currency commenced weak at 55.68 a dollar from Monday's close of 55.57 against the dollar.
The rupee on Monday gained for the first time in three days and closed up 12 paise to 62.56 against the dollar on fag-end sales of the US currency.
There was sustained selling of the American currency by exporters ahead of a decision of US Federal Reserve on tapering its monetary stimulus.
Rupee gained on fresh selling of dollars by banks ahead of the RBI policy meeting.
Weakness in the dollar against some other currencies overseas, supported the rupee
A higher opening in domestic stock market supported the rupee.
Appreciation of the dollar overseas amid a lower opening in the domestic equity market affected the rupee
The rupee on Monday fell by 40 paise to 59.96 in early trade on the Interbank Foreign Exchange market, weighed down by dollar's gains against other currencies in global markets.
The rupee had ended 47 paise higher at 60.14 against the US currency in the previous session.
A higher opening in the domestic equity market and a weak dollar against other currencies overseas on a string of disappointing US data last week also supported the gain in the rupee
Weakening of the dollar against other currencies overseas, following disappointing economic data and a higher opening in the domestic equity market, supported the rupee.
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