The rupee gained 49 paiss on Thursday to end at over 4-1/2-month high of 53.02 against the US dollar on heavy selling of the American currency by exporters and some banks.
The government has already announced infusion of Rs 10,086 crore in Bank of India, Rs 5,500 crore in Oriental Bank of Commerce and Rs 2,159 in United Bank of India.
Foreign investors have pumped in over Rs 1 lakh crore in the Indian securities market since Narendra Modi was announced as the prime ministerial candidate by Bhartiya Janta Party (BJP) in September last year.
The greenback's strength against other Asian currencies and lacklustre local equity markets made the rupee depreciate.
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
Besides, steady euro against the American unit and a higher opening in the domestic equity market supported the rupee, forex dealers said.
The metal has gained Rs 860 in last six trading sessions.
A weakening dollar against other currencies overseas supported the rupee.
The rupee on Thursday recovered by a hefty 60 paise to 53.24 against the US dollar in early trade on the Interbank Foreign Exchange market after the Reserve Bank tightened norms for utilisation of the foreign currency fixed deposit funds to check outflow of forex.
Continued dollar selling by exporters and some banks on hopes of further fall in dollar value overseas also aided the rupee rise.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
In the last four days, rupee has lost 104 paise against the dollar.
The rupee bounced back by 10 paise to end at 68.62 on Friday.
Falling for the third day, Indian rupee on Wednesday weakened by 14 paise to close at over one-week low of 62.02 against the Greenback.
The NSE 50-share index, after moving between 10,572.20 and 10,546.20, ended at 10,565.30, up 39.10 points, or 0.37 per cent.
Currently, FDI up to 26 per cent is permitted through automatic approval route.
The rupee on Monday rose by 5 paise to trade at 55.35 against the US dollar in early trade at the Interbank Foreign Exchange as the American currency weakened against euro overseas.
The government has sought details from National Thermal Power Corporation for its proposed public offer for increasing equity by up to five per cent
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
The Indian rupee on Monday reacted downwards by 12 paise to log nearly one-week closing low of 63.41 against the Greenback.
Indo Texprint Overseas Ltd has fixed February 10 as record date for the purpose of reduction of the existing share capital of the company by 90 per cent from Rs 50 million to Rs 5 million.\n\n\n\n
The broader NSE Nifty reclaimed the key 10,100-mark and touched a high of 10,155.65, before finally settling at 10,124.35
Strong rebound in local equities restricted the rupee's fall.
Gold prices surged by Rs 150 to trade at fresh three-month high of Rs 27,575.
US dollar was firm against global currencies in overseas markets on rising prospects for a rate hike by US Federal Bank, which hit the rupee sentiment
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
Experts said concerns over the Union Budget, too, had weighed on the market performance.
FIIs have been aggressive buyers of bonds since the beginning of 2013.
Lower dollar in the overseas market also boosted the rupee value
The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up by 0.31 per cent at 97.52.
The domestic currency has gained 9 paise or 0.13 per cent in two days.
The dollar's weakness against some currencies overseas limited the rupee's fall.
Forex dealers said a higher opening in the domestic equity market and dollar's weakness against other currencies overseas after the US Federal Reserve kept its easing policy unchanged also supported the rupee.
Concerns about the US Federal Reserve withdrawing its stimulus have also affected emerging markets.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
The rupee on Monday continued its upward march against the US dollar for the third day, firming up by another 10 paise to 66.00 on fag-end selling of the American currency by banks and exporters.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
Besides, the quantum of FPI investments via P-notes dropped to 3.5 per cent during the period under review from 3.8 per cent in the preceding month.
