The rupee came under pressure as trade deficit widened to three-year high at USD 14.88 billion in December,government data showed yesterday, imports surged nearly 21.1 per cent year-on-year to USD 41.90 billion last month while exports grew 12.4 per cent on-year to USD 27.03 billion.
The rupee opened higher at 63.60 per dollar from yesterday's closing level of 63.66 at the inter-bank foreign exchange market today.
Spot gold was down 0.4 percent at $1,306.72 an ounce at 0333 GMT. U.S. gold futures dropped 0.8 percent to $1,307.80 an ounce.
The rupee opened lower at 63.55 per dollar, retreating from yesterday's 2-1/2 years closing highs of 63.48 a dollar at the inter-bank foreign exchange market today. The domestic unit hovered between 63.5750 and 63.4950 per dollar, before quoting at 63.50 at 1020 hrs.
The dollar rose against euro, which came under pressure after snap poll results showed that Catalan separatists kept a slim majority in Parliament, an outcome that spells uncertainty for Europe.
Dubbed as the biggest overhaul of the US tax code in 30 years, the Bill slashes taxes for corporates as well as the middle class.
The domestic unit opened lower and crashed instantly to 64.72 as early reports of vote counting had pointed to a close fight between the BJP and the Congress in Gujarat and Himachal Pradesh state elections.
Spot gold was up nearly 0.2 percent at $1,254.74 an ounce as of 0349 GMT, and has gained 0.5 percent so far this week. U.S. gold futures were unchanged at $1,257 an ounce.
According to the findings released yesterday, the BJP is set to retain Gujarat and wrest Himachal Pradesh from the Congress. This led to a ripple effect on the stock market, which zoomed, impacting in turn the rupee sentiment.
The Fed raised benchmark rates for the third time this year, but maintained its outlook of three rate increases in 2018 on low inflation concerns.
The domestic unit opened lower as against yesterday's closing level of 64.40. It slid further to 64.56 before hitting 64.45 at 1030 hours.
Spot gold was nearly unchanged at $1,263.21 an ounce by 0406 GMT. It marked its lowest since Oct. 6 at $1,260.71 on Tuesday.
The rupee opened 10 paise down at 64.51 against previous closing level of 64.41 per dollar at the interbank forex market.
The rupee opened lower at 64.53 against previous closing level of 64.50 per dollar at the interbank forex market. It slid further to 64.60 in early trade amid losses in stock markets.
The rupee opened a tad lower at 64.71 against last Friday's closing level of 64.70 per dollar at the interbank forex market.
Spot gold had edged down 0.2 percent to $1,291.71 per ounce by 0417 GMT. On Friday, gold jumped about 1.3 percent to nark a one-month peak of $1,297.
The rupee hit 65.47 at 1102 hours compared to yesterday's closing level of 65.42 at the forex market.
The rupee opened a tad higher at 64.95 per dollar as against yesterday's closing level of 64.96 per dollar at the interbank forex market.
According to Bank of America Merrill Lynch (BofAML), the Reserve Bank is expected to follow an "asymmetrical" policy response to the US dollar, wherein it will allow some depreciation in the rupee and will recoup forex reserves at every opportunity that the greenback depreciates.
Besides reviving credit growth after a period of weakness post demonetisation, the recap plan will help banks wind down their Non Performing Assets (NPAs) or bad loans and take up fresh credit, which should help boost a private capex recovery in India, the report noted.
Earlier, the rupee opened lower by 7 paise at 65.14 per dollar as against yesterday's closing level of 65.07 per dollar at the Interbank Forex Market (FOREX).
The rupee opened higher by 4 paise at 64.98 per dollar as against yesterday's closing level of 65.02 per dollar at the Interbank Forex Market (FOREX).
The rupee resumed lower at 65.08 per dollar as against last closing level of 65.04 at the Interbank Forex Market.
Japanese Prime Minister Shinzo Abe's ruling coalition secured a two-thirds "super majority" after winning 312 out of 465 seats available at Sunday's election, Reuters said, citing local media. Abe's solid win at the polls points to a continuation of fiscal and hyper-easy monetary policies under his Abenomics program.
The rupee opened higher by 7 paise at 64.95 as against yesterday's level of 65.02 at the interbank forex market (Forex) market.