At the interbank forex market, the domestic unit opened at 73.67 against the US dollar, and finally ended the day at 73.55, registering a rise of 5 paise over its last close.
At the interbank forex market, the rupee opened at 73.17, lost further ground and finally closed at 73.35 against the American currency, down 21 paise from its previous close.
At the interbank forex market, the local unit opened at 74.83 against the US dollar, then gained further ground and finally settled at 74.78, up 12 paise over its previous close of 74.90 against the American currency.
Starting off on a tepid note, the rupee fell to a low of 75.04, but recovered slightly thereafter and moved in a narrow band throughout the session. It finally settled at 74.93, gaining 1 paisa over its previous close.
Forex traders said positive equities, foreign fund inflows and weak US currency supported the local unit, however rising COVID-19 cases weighed on investor sentiment.
Forex traders said investors were bullish on emerging market assets following encouraging vaccine test results. Moreover, positive domestic equities, steady crude oil prices and weak US currency supported the local unit.
At the interbank foreign exchange market, the rupee opened strong at 76.16 and it further rushed to touch a high of 75.98 during the trade.
The rupee opened weak at 75.93 at the interbank forex market. It fell further and finally settled for the day at 76.03 against the US dollar, down 19 paise over its last close.
Forex traders said rupee traded in a range bound manner in the absence of any major trigger and market participants are eagerly awaiting Fed's stance and their outlook on the US economy for further cues.
Forex traders said positive domestic equities, sustained foreign fund flows, revival of business activities and weak US dollar supported the local unit, but there were still a slew of risks, including US-China trade tiff, that weighed on the currency.
Forex traders said positive domestic equities, sustained foreign fund flows, revival of business activities and weak US dollar supported the local unit, but there are still a slew of risks, including US-China trade tiff and concerns that it may jeopardise the Phase-1 deal.
Forex traders said positive domestic equities, weak American dollar and foreign fund inflows also supported investor sentiments.
Forex traders said investors are awaiting the country's gross domestic product data for the January-March quarter, due later in the day, for further cues.
Sri Lankan President Gotabaya Rajapaksa has requested India to provide a special USD 1.1 billion currency swap facility to boost the country's draining foreign exchange reserves
Forex traders said weak domestic equities, strengthening American currency overseas, rising coronavirus cases in the country and US-China trade tensions also weighed on the local unit.
Forex traders said while positive domestic equities supported the local unit, market participants were concerned about the impact of spiking coronavirus cases on the economy.
Forex traders said the rupee is trading in a narrow range as positive domestic equities supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the local unit.
Forex traders said investor sentiment strengthened after the RBI said it would undertake additional purchase of government securities through open market operations (OMO).
The relentless selling by FIIs has contributed to the fall of rupee.
Forex traders said the weakness in the rupee was largely due to strengthening of the US Dollar against a basket of currencies as investors fled to safe haven greenback amid weakening risk appetite in the markets.
Forex traders said firm US dollar index weighed on the local unit. Besides, investor sentiments remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
The Indian currency touched an intraday low of 76.16 against the US dollar in today's trade so far amid strengthening of the US dollar against its global peers.
Investor sentiment remained fragile amid concerns over the impact of coronavirus outbreak on the global economy.
The Indian rupee on February 4 appreciated by 11 paise to close at 71.27 against the US dollar, tracking heavy buying in domestic equities.
Weak macroeconomic environment, Moody’s changed outlook on India and global factors are among the key factors that are keeping the rupee wobbly.