Fag-end selling of dollars by banks and exporters
The domestic currency had last ended at 64.17 per dollar.
The local currency had surged 18 paise to 63.64 in Thursday's trade.
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On Monday, the rupee gained 16 paise.
The rupee had closed with a gain of 12 paise on Friday.
The rupee hovered in a narrow range of 62.20 and 62.28
Increased demand for the dollar from importers affected the value of the rupee
The rupee had gained 28 paise against the American currency to settle at nearly two-month high at 66.74 in Monday's trade.
Weakness of the dollar against other currencies overseas gave the rupee more muscle.
The domestic currency had lost 10 paise to close at 59.03 against the dollar in Thursday's trade amid capital outflows linked to fall in equities.
Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
Dollar sales by exporters and firm local equities also supported the local currency.
The local currency had lost 119 paise in the past five sessions on rising worries over current account gap and fears that withdrawal of US stimulus will hit inflows from overseas.
The domestic currency has dropped 40 paise or 0.60 per cent in two days
The US dollar's weakness against some currencies overseas capped the losses.
Rupee rises by 16 paise against dollar on fresh selling.
At lower levels, a supportive buying in dollar forced rupee to depreciate since opening trade
Extending losses for the second straight day, the rupee declined by 11 paise to close at more than 3-week low of 66.93 against the US dollar.
There was fresh selling of the American currency by banks and exporters
Dollar gained against major currencies overseas.
The rupee had gained five paise to close at 63.25 against the dollar in on Monday's trade on fresh selling of the US currency by exporters amid bullish stocks.
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The rupee had ended almost flat at 61.41 against the Greenback in the previous session on Wednesday on alternate bouts of buying and selling.
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Traders expect the rupee to remain wedged between the 59.60 and 60.50 levels in the absence of any key triggers in the near-term.
Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts. One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias. While the equity market has been surging with occasional blips, the rupee has mostly been weak against the US dollar in recent months.
Investors are anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue.
The domestic currency has dropped by 62 paise or 0.93 per cent in four trading days.
Weakness in dollar in the overseas market also boosted the rupee value
The rupee had gained by 50 paise or 0.75 per cent in two weeks.
The rupee resumed lower at 61.15 per dollar as against the last weekend's level of 61.07 at the Interbank Foreign Exchange market and hovered in the range of 61.15 and 61.28 before quoting at 61.24 per dollar at 1030 hours.
The rupee came under pressure on demand from importers as the dollar strengthened overseas.
Even the persistent rise in equity market failed to restrict the rupee's fall.
The local currency opened higher at 61.20 a dollar from the previous close of 61.30 at the Interbank Foreign Exchange Market.
A weak dollar overseas failed to restrict the rupee's decline, a forex dealer said.
