The rupee on Friday closed almost flat at 70.88 against the US dollar after the Reserve Bank of India in a widely expected move cut key interest rates by 0.25 percentage point. At the interbank foreign exchange market, the rupee had opened strong at 70.82 against the US dollar at the interbank forex market.
On Thursday, the rupee had settled for the day with gains of 28 paise at 71.84 against the US dollar. The domestic unit, however, could not hold on to the gains and was trading at 71.73 against the dollar at 0949 hrs.
The rupee appreciated by 27 paise to 71.85 against the US dollar in early trade on Thursday as gains in domestic equity market enthused investors. At the interbank foreign exchange, the rupee opened at 71.87, then gained further ground and touched a high of 71.85, registering a rise of 27 paise over its previous close.
The rupee on Tuesday had dropped sharply by 97 paise to more than nine-month low of 72.39 against the US dollar as heavy sell-off in the domestic equity market, weak macro environment and a stronger greenback kept investors edgy.
The domestic currency finally settled with a gain of 38 paise of 0.53 per cent at 71.42, a level not seen since August 16.
The rupee on Friday declined below the 72 mark against the US currency in opening session due to continued foreign fund outflows and losses in the equity markets.
At the interbank foreign exchange, the Indian currency opened weaker at 71.65 a dollar and went on to touch the day's lowest level at 71.97. It finally settled at 71.81, down 26 paise against the American currency. This was the lowest level for the rupee since December 14, when it had closed at 71.90.
At the interbank foreign exchange, the rupee opened weak at 71.65 then fell to 71.72 against the US dollar, showing a decline of 17 paise over its previous closing.
On Monday, the rupee had tumbled 29 paise to close at an over six-month low of 71.43 against the US dollar amid growing worries over economic slump.
The rupee appreciated by 9 paise to 71.05 against the US dollar in early trade on Monday, tracking gains in domestic equities and indication of a revival in trade talks between the US and China.
At the Interbank Foreign Exchange, the rupee opened weak at 71.33 then fell to 71.47 against the US dollar, showing a decline of 20 paise over its previous closing.
On Tuesday, the rupee had plunged 62 paise to close at a nearly six-month low of 71.40 against the US dollar in line with battered equities as global market turmoil and Argentine currency crash drove investors to safe havens.
The rupee appreciated by 22 paise to 70.47 against the US dollar in early trade on Friday, tracking gains in domestic equities amid reports of a meeting between foreign investors and finance ministry officials regarding higher tax surcharge during the day.
In a highly volatile trade, the rupee opened at 70.20 at the interbank forex market and touched a low of 70.59 and a high of 70.18 against the American currency. The domestic currency was trading at 70.37 against the American unit, down 77 paise over its previous closing price at 1211 hours.
The rupee depreciated by 12 paise to close at 68.92 against the US dollar on Monday tracking heavy losses in the domestic equity market and a spike in crude oil prices following Iran's seizure of a British tanker.
The rupee snapped its three-day losing streak to close 17 paise higher at 68.80 against the US dollar Friday as market participants pinned their hopes on an aggressive rate cut by the US Federal Reserve later this month.
At the interbank foreign exchange market, the local unit opened on a firm footing at 68.31, and shuttled between a high of 68.30 and a low of 68.48 during the day. The rupee finally closed at 68.44, down 14 paise over its previous close.
The rupee rebounded 25 paise to 68.33 against the US dollar in early trade on Thursday, in tandem with other emerging market currencies after Federal Reserve chief Jerome Powell bolstered expectations of a rate cut later this month.
The rupee opened weak at 68.61 at the interbank forex market and slipped further to 68.67, showing a decline of 16 paise against its previous close.
At the interbank foreign exchange, the domestic unit opened at 69.02. During the day, the domestic unit witnessed a high of 68.93 and a low of 69.07 against the US dollar.
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