Looking at positive global cues, we expect the rupee to appreciate though the strength in dollar may put some pressure, says Pramit Brahmbhatt of Veracity.
Draghi said the strength and persistence of factors slowing inflation require "thorough analysis" as he reiterated the central bank's commitment to use all measures available to it to tackle the lackluster growth seen in the euro zone.
Chinese stocks were a bright spot - solidly in positive territory and recovering from Wednesday's worst one-day fall in five weeks.
Draghi has already dropped hints that the central bank's quantitative easing (QE) program will be extended beyond its September 2016 putative deadline, sparking speculation among economists as to if and when the move might be announced.
The Canadian dollar, already under pressure from sliding crude oil prices, faced extra headwinds as Canada's Liberal Party, was tipped to won Monday's general election which would pave the way for increased government spending.
"This applies to structural reforms and fiscal policy," Ewald Nowotny said in an interview with Poland's Rzeczpospolita.
Earlier, the domestic unit opened higher at 64.77 per dollar as against last Friday's closing level of 64.81 at the Interbank Foreign Exchange (Forex) market. Later, it fell on fresh dollar demand by importers to Rs 64.85 before quoting at 64.79 at 1030 hours.
On the lower side it is most likely that we see dollar buying interest come in from local government banks on account of their regular demand, says Agam Gupta of Standard Chartered.
Ewald Nowotny called for fresh measures to boost demand in the euro zone, improve its competitiveness and strengthen economic integration within the 19-country currency bloc.
A Fed hike would have a bigger impact because emerging markets, particularly China, are now integrated in the global economy to an unprecedented degree, countries are more interlinked in production, cross-border capital flows have increased, and forward guidance has become a crucial monetary policy instrument, Constancio said on Thursday.
Speaking to CNBC on the sidelines of the IMF/World Bank's annual meeting in Lima, Peru, CÅ“urÃ© said that the central bank was positive about the region's recovery but that investment needed to follow.
Investors' appetite for new fund allocations was also blunted by a sharp correction in China's stock market and uncertainty about the timing of a US interest rate rise.
Despite near-zero rates and USD 7 trillion of monetary stimulus unleashed by central banks in major industrial economies, investment and growth is stuck below pre-crisis levels and tepid demand is hurting developing economies by depressing prices of their commodity exports.
Worries that an eventual tightening in US monetary policy and slower growth in China could knock the global economy have scared off investors, particularly those invested in stocks and commodities.
The draft framework on External Commercial Borrowings (ECBs), however, proposed to lower the all-in cost borrowing by 0.50 percent to ensure that the funds are borrowed from abroad at a reasonable interest rate.
Besides, he said, the government is also planning to remove various conditionalities and restrictions to make the foreign direct investment (FDI) policy more progressive and make the country an attractive investment destination.
Shaktikanta Das, who took over his current post earlier this month, did not provide specifics on which ECB rules would be eased, during a speech to an investor summit in Delhi.
Drawing a comparison with other major central banks around the globe, ECB Vice President Vitor Constancio said the European scheme is dwarfed by past asset buys, particularly by the US Federal Reserve and the Bank of Japan.
The asset buys, started in March to lift the bloc out of deflation, helped Europe to weather the Greek and Chinese turmoil but euro area inflation could turn negative again in the coming months so the bank stands ready to increase the size, composition and duration of the scheme, if necessary, Constancio said.
In early September, both the World Bank and the IMF cautioned the US central bank against raising rates until the world economy was on a surer footing.
Portugal goes to the polls early next month and Spain is expected to hold an election by year-end, with recent polls in both countries showing tightly-run races so far.
Pointing to the parliament building overlooking his small cafe in Athens' Syntagma Square, the 35-year-old blames Greece's turbulent politics for the troubles of its banking system.
In a campaign speech in the northern town of Thessaloniki, Tsipras offered no new policy ideas but pledged thousands of new jobs and an attack on corruption.
They also said they were confident growth would pick up and, as a result, interest rates in "some advanced economies" -- code for the United States -- would have to rise.
There is no sign China and resultant slowdown being discounted as yet, says Nick Parsons of National Australia Bank.