The rupee on Tuesday surged by 49 paise to close at 75.64 against the US dollar, following a rally in stock markets. At the interbank foreign exchange, the rupee opened at 75.92 and gained further ground to touch the day's high of 75.60.
The rupee, which has weakened to 76 against the dollar, is likely to further depreciate to 77 in the next few sessions as the dollar buying continues amid higher demand from foreign investors, according to CARE Ratings.
The rupee pared its initial gains to settle marginally higher at 74.24 against the US dollar on Tuesday amid continued meltdown in equity markets and sustained foreign fund outflows. Forex traders said the Indian rupee which started the day on a positive note, witnessed heavy volatility amid fears that the rate cut by the Reserve Bank would not be sufficient to boost market sentiments.
The Indian rupee staged a recovery in the afternoon session on Friday, trading 36 paise higher against the US dollar, after the Reserve Bank stepped in to maintain sufficient liquidity in the panick-stricken currency market.
The Indian rupee plunged 82 paise to 74.50 against US dollar in opening trade on Thursday after the World Health Organization declared the new coronavirus (COVID-19) a pandemic.
The rupee recovered 56 paise to settle at 73.61 (provisional) against the US dollar on Wednesday amid positive domestic equities and weakening of the American dollar in the overseas market.
The Indian rupee recovered 33 paise to 73.84 against US dollar in early trade on Wednesday amid positive opening in domestic equities and weakening of the American dollar in the overseas market.
The Indian rupee has breached the 74 per dollar mark and experts feel that with continued global economic concerns and possibilities of further plunge in financial and oil markets, it may continue to witness volatility in the coming days.
The rupee on Monday slipped past the 74-level against the US dollar to settle at 74.14 (provisional), down 27 paise tracking heavy selling in domestic equity market amid rising concerns over coronavirus-led economic slowdown.
The rupee on Thursday settled flat at 71.33 (provisional) against the US dollar after weak macro-economic data disappointed market participants. Forex traders said disappointing macro economic numbers and weak domestic equities weighed on the local unit
The rupee declined by 22 paise to settle at 71.40 against the US dollar on Friday amid selling in domestic equities and strengthening of the American currency overseas. Forex traders said the rupee traded weak largely owing to strengthening of the US dollar ahead of the non-farm payrolls number scheduled to be released later in the day.
The Indian rupee moved up by 13 paise to close at 71.25 against the US dollar on Tuesday as forex market participants gauged improved sentiment in global markets amid efforts to contain deadly coronavirus. The Indian currency was also supported by Brent crude prices at lower levels and foreign fund inflows into domestic equities.
Forex traders said the rupee consolidated in a narrow range following lack of cues on the domestic as well as the global front. During the day, the domestic unit fluctuated between a high of 71.68 and a low of 72.
The Indian rupee depreciated 30 paise to 71.77 against the US dollar in early trade on Wednesday amid rising concerns over the US-China trade deal and political unrest in Hong Kong
The rupee on Friday plummeted by 31 paise to hit an over three-week low of 71.28 against the US dollar after Moody's Investors Services cut India's rating outlook to negative citing growth concerns.
At the interbank foreign exchange market, the rupee opened lower at 71.06 against the US dollar. During the day, the domestic unit fluctuated between a high of 70.87 and a low of 71.06.
At the interbank foreign exchange, the rupee opened at 70.90, then gained further ground and touched a high of 70.87 against the US dollar, registering a rise of 27 paise over its previous close.
At the interbank foreign exchange market, the rupee opened at 71.60 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.36 and a low of 71.71.
Top losers in the Sensex pack during early session included SBI, ICICI Bank, Tata Motors, Yes Bank, Tata Steel, Axis Bank, HDFC twins, M&M, Bajaj Finance and IndusInd Bank, shedding up to 2.66 per cent.
The rupee depreciated by 14 paise to close at 71.02 against the US dollar on Monday as profit booking in domestic equities and unabated foreign fund outflows kept investors edgy.
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