- Indian rupee off 1-month lows on suspected Reserve Bank interventionIndian rupee has first gain in New Year, up 10 paise to 62.16 vs US dollarRupee drops 31 paise against dollar in first week of new yearRoller-coaster day for Indian rupee against US dollar, outlook between 61:60/70 and 62:70/63:00
In line with the equity market, the Indianrupee trimmed initial losses and was still quoted 22 paise lower at 62.38 per US dollar on demand for the US currency from banks and importers.
The Indian rupee resumed lower at 62.35 per US dollar as against the last weekend's level of 62.16 per dollar at the Interbank Foreign Exchange (Forex) market and dropped further to 62.46.
However, it recovered afterwards to 62.32 per dollar before quoting at 62.38 per dollar at 1045 hrs. It moved in a range of 62.32 and 62.46 per dollar during the morning deals.
In New York, the US dollar jumped to a one-month high against the euro last Friday.
The benchmark BSE Sensex declined by 32.70 points, or 0.16 per cent, to 20,818.63 at 1045 hrs.