|Day's range||65.949 - 66.313|
|52-week range||63.2100 - 66.31|
Extending its slide for a fifth day, the domestic currency took a hit of 32 paise to close at more than one-year low as the RBI's surprised hawkish tone kept overall sentiment bearish.
The Nifty IT index rallied as much as 3.9 percent after the rupee weakened by 29 paise intraday to breach the 66-level and hit its 13-month low of 66.08 against the US dollar due to appreciation of the US currency overseas.
Indian bond yields spiked while the rupee dropped to its lowest in more than a year on Friday after the minutes of the monetary policy panel meeting suggested that they were likely to take a more hawkish tone starting as early as June.
Rupee weakened by 25 paise to breach the 66-level and hit its 13-month low of 66.05 against the US dollar in the early trade today due to appreciation of the US currency overseas.
The Indian currency logged its lowest closing since March 14, 2017, when it had closed at 65.82 against the US dollar. The rupee emerged as the worst performer among the major Asian and emerging market currencies.
Rice export prices in India dropped for a second week on sluggish demand and a weaker rupee, while Thai rates surged amid supply woes and fresh deals buoyed Vietnamese rates. Rates for top exporter India's 5 percent broken parboiled variety fell by $2 to $417-$421 per tonne. Also weighing on Indian exports was weak demand from Bangladesh, which had emerged as a major importer since 2017 after floods depleted stocks.
The Reserve Bank of India today fixed the reference rate of the rupee at 65.7837 against the US dollar and 81.3876 for the euro.
The rupee depreciated 15 paise to 65.81 against the US dollar in opening trade at the interbank forex market today on increased demand for the greenback from importers and banks amid soaring crude oil prices overseas.
The rupee had fallen to a low of 65.79 in early trade but the RBI's suspected intervention helped the currency recover to a day's high of 65.59.
Moreover, collections from goods and services tax (GST) also don’t seem to be on an upward trajectory, he added.
The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the US dollar in early trade at the interbank forex market today on fresh demand for the greenback from importers and banks.
A Treasury report that stopped short of naming any U.S. trade partner a currency manipulator didn’t stop President Donald Trump from leveling the charge against Russia and China on Monday.
The rupee recovered 4 paise to 65.45 against the dollar at the interbank forex market today on fresh selling of the greenback amid a higher opening of domestic equities.
The Indian unit was the biggest loser among Asian currencies which suffered due to a strong US dollar after the strike on Syria by the US, the UK and France.
The rupee fell 20 paise to 65.40 against the US dollar in early trade today on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities.
Easing global trade war fears after US President Donald Trump hinted that military action in Syria might not be imminent along with some consolidation in global crude prices kept forex market sentiment buoyant.
After opening higher, the rupee shed 3 paise to 65.29 against the US dollar in early trade today despite better-than-expected inflation numbers released yesterday.
The fall in rupee is always a good for software services providers which receive maximum income through exports to US, Europe etc.
The rupee shed 5 paise to hit a fresh five-month low of 65.36 against the US dollar in early trade today following increased demand for the American currency from banks and importers.
The Reserve Bank of India today fixed the reference rate of the rupee at 65.1272 against the US dollar and 80.5884 for the euro.