Investors are trying to push ahead with dollar purchases, emboldened by improving market sentiments
Banks and exporters preferred to reduce their dollar position in view of its weakness.
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.
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.
The rupee ended marginally higher by two paise at 62.24 against the dollar on Wednesday.
The domestic currency has already dropped 44 paise, or 0.67 per cent, in the previous two sessions.
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.
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.
Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said
The dollar gained against other currencies overseas.
A sustained rise in equity market also boosted the rupee sentiment.
The rupee continued to rule firm against the dollar for the second consecutive day.
Forex dealers said rebound in domestic stock markets also helped the rupee strengthen against the dollar.
Rupee was impacted by renewed dollar demand from banks and importers amid sharp falls in equity market
Bucking a strong trend in share market, the Indian rupee on Monday gave up all its initial gains and slipped 18 paise to close at 61.94 against the Greenback on rising dollar demand from importers.
The rupee strengthened by 13 paise to 61.67 against the US dollar at close.
Increased demand for the dollar from importers affected the value of the rupee
The domestic currency has gained 9 paise or 0.13 per cent in two days.
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.
The US dollar's weakness against some currencies overseas capped the losses.
The rupee had gained by 50 paise or 0.75 per cent in two weeks.
The rupee had slumped to its all-time closing low of 68.80 a dollar on August 28, 2013.
The rupee appreciated further on Thursday, adding 106 paise to 66.01 against the dollar, after steps taken by new Reserve Bank of India Governor Raghuram Rajan to attract US currency inflows boosted market sentiment.
The Indian rupee ended slightly lower at 64.01/02 per dollar compared with Tuesday's close of 63.98/99 per dollar due to month-end dollar demand by importers.
The Rupee is seen recovering from its all-time lows against the dollar.
Fag-end selling of dollars by banks and exporters
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
The rupee had firmed up 16 paise to close at 67.52 on Thursday.
Ending a four-day upmove, the rupee on Tuesday retreated four paise from its 11-month high levels to close at 58.63 against the dollar on fresh demand for the US currency from importers, amid some profit-booking in stocks.
The RBI fixed the reference rate for the dollar at 65.2525 and for the euro at 72.1954.
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
In line with rally in stocks, the Indian rupee on Monday appreciated for the second straight session and closed with a eight paise gain at a one-week high of 61.36 against the Greenback.
The rupee had jumped by 164 paise or 2.39 per cent in previous six trading days.
Even the persistent rise in equity market failed to restrict the rupee's fall.
Sharp fall in domestic stock market also affected the rupee sentiment.
Increased demand for the American unit from importers and banks, affecting the value of the rupee
The rupee has lost 37 paise or 0.55 per cent in two days.
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 has dropped by 83 paise or 1.24 per cent in three days
The rupee on Wednesday snapped its two days of losses and edged up two paise to end at 59.27 against the dollar following late selling of the US currency by exporters.
