India's forex market News

This is the highest closing for the home currency since September 13, when it had closed at 64.

The local unit received some good support from higher domestic equities. But a strong dollar overseas kept the rupee in check.

Traders said the dollar's renewed strength against other currencies overseas weighed on the rupee, but a higher opening in domestic equities limited the impact.

The concerns over weak macroeconomic fundamentals has led to foreign investors pulling out dollars from India`s stock markets.

This was the weakest closing for the home currency since March 24, when it had ended at 65.41 against the greenback.

Subramanian said there was a "big" appreciation of the rupee between January and April which had adversely impacted Indian exports and the country`s import-competing sectors.

Dealers said early losses in domestic equity markets and unabated foreign fund outflows weighed on the rupee.

This was the lowest level the domestic currency had seen since since July 3 this year, when it had closed at 64.88 against the US dollar.

The home currency plunged sharply to hit a low of 64.43 in mid-morning session on heavy dollar demand before recuperating losses.

The domestic currency has lost 25 paise, or 0.39 percent, in the last two days.

According to the global financial services major, it has been among the better performing currencies in the emerging markets and has appreciated 6 percent so far this year, but there are few triggers left for a sharp rally of the rupee from its current level.

The domestic currency resumed higher at 63.98 per dollar against the yesterday's closing level of 64.04 at the forex market and hovered in a range of 63.9625 and 64.0250 before finishing at 64, a gain of 4 paise or 0.06 percent.

After hitting a fresh intra-day low of 64.18 in late afternoon trade, the domestic unit finally settled at 64.12, revealing a loss of 7 paise, or 0.11 percent.

The interbank foreign exchange market saw a listless trade as traders preferred to stay on the sidelines ahead of central banks annual meet at Jackson Hole, dealers said.

The domestic currency finally settled at 64.14, revealing a gain of one paisa over Friday's close of 64.15.

Forex dealers said dollar strengthening against other currencies overseas on strong US sales data weighed on the rupee sentiment.

For the week, the rupee finished with a steep 55 paise fall, snapping its four-week rally.

The rupee strengthened 15 paise to 64.39 against the dollar Thursday, backed up by record-shattering stocks, as foreign capital stayed on an upward trajectory.

For the week, the rupee ended with a modest 2 paise fall, stretching its downtrend for the fourth-straight week.

The rupee turned weak once again after a brief recovery against the US currency and ended lower by 4 paise at 64.78 Wednesday on fresh demand for the dollar from banks and exporters amid geopolitical uneasiness.