The rupee opened on a flat note at 69.58 against the US dollar in opening trade on Monday amid rising crude oil prices and foreign fund outflows.
The rupee Friday fell 28 paise to trade at 69.72 against the US dollar in early trade following foreign fund outflows and rising crude prices after Iran said it had shot down a US military drone.
The rupee Thursday surged 24 paise to close at a one-week high of Rs 69.44 against the US currency on the back of a rally in equities and losses in the dollar after the US Federal Reserve hinted at a possible rate cut in near future.
India’s benchmark 10-year bond yields dropped to their lowest in 20 months on Thursday after the US Federal Reserve signalled possible interest rate cuts later this year, while buying from state-run banks also aided.
The rupee witnessed high volatility against the US dollar in opening trade on Thursday, after the US central bank left key interest rates unchanged. The US Federal Open Market Committee kept the key rate in the 2.25-2.5 per cent range.
The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.8010 and for rupee/euro at 78.4233. The reference rate for rupee/British pound was fixed at 87.4602 and for rupee/100 Japanese yen at 64.47.
Globally, spot gold was trading lower at USD 1,343 an ounce, while silver was down at USD 15.01 an ounce in New York.
Facebook Inc announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns.
The rupee opened strong at 69.57 at the interbank forex market then gained further ground to touch 69.49 per dollar, displaying gains of 21 paise against the greenback.
The rupee appreciated by 21 paise to close at 69.70 against the US dollar as easing crude prices and a weak dollar ahead of the US central bank's meeting helped the currency snap its three-day losing streak.
The rupee appreciated by 11 paise to 69.80 against the US dollar in opening trade on Tuesday, driven by positive opening in domestic equities and easing crude prices.
The Indian rupee fell by another 11 paise to close at 69.91 to the US currency, its third straight-session loss, in line with intense sell-offs in domestic equities amid concerns over Indo-US trade tariff disagreements.
The rupee depreciated by 9 paise to 69.89 against the US dollar in early trade Monday on weak opening in domestic equities and rising crude oil prices.
The Indian rupee Friday fell by another 30 paise to close at 69.80 against the US currency as strengthening greenback and rising crude oil prices kept investors cautious.
Snapping its two-session gaining streak, the rupee dived 16 paise to close at 69.50 against the US dollar on Thursday amid a sharp rise in crude oil prices.