At the interbank forex market, the local unit opened at 75.24 against the greenback and witnessed an intra-day high of 74.96 and a low of 75.24
The U.S. dollar index edged lower and was down 0.2% on the day at 95.846 by 0831 GMT
On Monday, the rupee had slumped by 24 paise to close at an over nine-week low of 75.60
LONDON (Reuters) - European stocks opened slightly higher on Tuesday, the dollar eased and gold was just below an 8-month high as investors remained focused on the risk of Russia invading Ukraine.
Forex traders said sustained foreign fund outflows and elevated crude oil prices too weakened the rupee position.
Weighing on gold, the dollar and safe-haven currencies held their gains, while yields on the benchmark US 10-year Treasury note edged higher
Forex traders said muted domestic equities and elevated crude oil prices weighed on the local unit.
Rupee weakened further on Friday and closed below the 75/dollar mark for the first time in 2022 after US January inflation accelerated to 40 years high
Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit
Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit.
The consumer price index rose 0.6% from December, the Labor Department said, while in the 12 months through January, CPI jumped 7.5%, the biggest year-on-year gain since February 1982
Currency market moves were small on Thursday as investors waited for key data on U.S. inflation to give clues on the Federal Reserve's policy tightening trajectory
Spot gold XAU= was up 0.1% at $1,827.20 per ounce as of 0957 GMT, trading in a narrow $5 range. U.S. gold futures GCv1 were steady at $1,828.40
The Australian dollar got a bit of a lift as continued gains in global stocks boosted the mood for risk taking
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower at 95.53.
The euro continued to retreat from near a three-month high to Japan's currency
However, the surge in the rupee was restricted amid elevated crude oil prices and muted domestic equities.
The new rate expectations for both the Fed and ECB pit the dollar and euro against each other as to which will gain an upper hand
But the dollar was still down 1.7% on the week, on pace for its largest weekly percentage decline since November 2020.
(Reuters) - Gold prices eased ahead of key central bank meetings on Thursday as the U.S. dollar and Treasury yields strengthened a day after dismal private payrolls data sent bullion prices to one-week highs.