The rupee has dropped by 83 paise or 1.24 per cent in three days
The rupee recovered marginally at close against the dollar.
One of the key factors contributing to the decline in the value of the rupee against the US dollar is the tightening yield spread between the 10-year India government bond and the US government bond. The yield on 10-year Indian government bonds is now only 295 basis points higher than that of US 10-year treasury bonds, the lowest since January 2007. Lower spread means lower incentive for foreign investors to invest in rupee assets, which adversely affects foreign capital inflows into the country and weighs on the rupee-dollar exchange rate.
The Rupee is seen strengthening against the dollar.
The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions.
Forex dealers said dollar's weakness against other currencies overseas supported the rupee.
On Friday, the rupee had gained 9 paise to close at a fresh one-week high of 67.08.
Rupee down 13 paise to 66.72 against dollar
Four franchises were involved in a bidding war with MI Cape Town making the initial move followed by Paarl Royals. However, towards the end it was Johannesburg Super Kings and Sunrisers Eastern Cape, who fought tooth and nail before the latter made a winning bid of R 9.2 million.
The rupee hit a near 10-month high as an alliance led by pro-reform and business friendly Hindu nationalist Narendra was on course for an absolute majority.
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Some analysts believe that markets are expected to remain unclear and would have to wait until tomorrow's US non-farm payrolls data.
The rupee had firmed up 16 paise to close at 67.52 on Thursday.
The rupee had last ended at 67.22 per dollar on March 16, 2016.
The RBI stipulated on Thursday that foreign institutional investors would require a mandate from participatory note holders to hedge on their behalf.
Petrol price has been hiked by Rs 1.82 a litre, excluding taxes, with effect from midnight tonight.
However, FII outflows of Rs 545 crore (Rs 5.45 billion) capped the gains in the rupee, which had slumped by 126 paise in past two days.
The rupee on Monday slipped by 5 paise to close at 63.57 per dollar on fresh demand for the American currency from banks.
The rupee had lost 10 paise to close at 21-month low of 64.26 against the greenback in Tuesday's trade.
The rupee had jumped by 164 paise or 2.39 per cent in previous six trading days.
The RBI fixed the reference rate for the dollar at 64.1505 and for the euro at 72.2720.
Forex dealers said rebound in domestic stock markets also helped the rupee strengthen against the dollar.
The rupee on Tuesday weakened by 15 paise to close at 63.30 against the US currency
The rupee recovered by three paise to close at 67.65 on fresh selling of dollars by banks and exporters amidst a recovery in equities.
The rupee on Tuesday fell to a two-month low of 54.78 against the US dollar.
'Tax dodging through tax havens is one of the ways multinational corporations and the super-rich in India are using to evade taxes.'
Snapping its two-day gains, the rupee on Monday declined by 48 paise to settle at nearly four-week low of 62.17 against the US currency.
The Indian rupee on Tuesday ended marginally higher against the American currency at 61.41 amid volatile trading on the back of a higher dollar overseas.
The dollar's weakness against rivals overseas supported the rupee.
The dollar strengthened against major world currencies.
Forex dealers said besides the dollar's gains against the euro overseas, increased demand from importers for the US currency and a lower opening in the domestic equity market also put pressure on the rupee.
Continuing its range-bound movement for the fourth session, the rupee today closed up by two paise at 59.25 ahead of industrial output and retail inflation data.
Falling for the first time in three days, the rupee today erased initial gains to end 15 paise lower at 62.43 against dollar on fag-end demand of the US currency from banks and importers, amid a tepid stock market.
Weakness in the dollar against some currencies supported the rupee.
Falling for the second day, the rupee on Friday weakened by 12 paise against dollar to end at 62.68 weighed down by demand for the American currency from importers and data showing fiscal deficit crossed 95 per cent of the annual target during April-December.
IOC said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely
The rupee extended gains for the second straight session against the US currency by firming up 21 paise to close at 64.82 a dollar.
The domestic currency had last touched 65-level and ended at 65.24 on September 6, 2013. It moved in a range of 64.63 and 65.23 during the day.
Amid sustained weakness across categories, the Indian stock market remained below the trillion-dollar mark for the third consecutive day today, as the total valuation of all listed companies slipped further to $944 billion.
Rupee movement, global cues key for stocks this week: Experts
After another day of volatile trade, the rupee today appreciated by seven paise to close at a new one-month high of 59.04 against the dollar as the RBI's liquidity-tightening measures continued to lend support.
