Forex traders said heavy buying in domestic equities and sustained foreign fund inflows also propped up the local unit.
The RBI may purchase 1.5 million ounces in 2019, or about 46.7 tonnes.
In a letter to the commerce minister, pepper consortium has raised concerns over spurt in illegal imports of Vietnam pepper.
The rupee Wednesday plunged by 19 paise to close at 71.24 against the US dollar.
In Mumbai, petrol and diesel are being sold at Rs 74.91 and Rs 66.04 per litre respectively on Saturday with a rise of 10 paise and 31 paise, respectively.
MSE has also been allowed by Sebi to introduce monthly Currency Options contracts on currency pairs of EUR-INR, GBP-INR & JPY-INR.
Political developments may keep market under pressure till election results are out on May 23.
Investment activity is recovering, but supported mainly by public spending on infrastructure, the RBI said.
Asian units took a hit in 2018 as rate differentials in the region widened after the Fed raised key rates.
A strengthening dollar ahead of the US-China trade talks and surging crude oil prices, however, restricted the rupee gains.
Major Asian markets were subdued in the wake of a fall on Wall Street.
Sterling was little changed at $1.2565 after slumping 1.3 per cent the previous day.
The rupee has been on a free fall against the US dollar, making the currency depreciation a political issue.
The rupee opened lower at 71.28 against the US dollar and dropped further to 71.44. The Indian unit hit a high of 71.23 during the day.
Rupee's superb show against the dollar, up by as much as 50 paise, prompted more buying.
The rupee was in the green and traded 13 paise higher against the US dollar around 9:30 am.
Broadly speaking, bond yields might remain under downward pressure, says Rajpal
Philip Morris and Godfrey have said they comply with Indian rules.
The Reserve Bank will negotiate the operational details bilaterally with the central banks of the SAARC countries availing the Standby Swap, an official statement said.
On Tuesday, the rupee had skidded by 16 paise -- its third straight session of loss -- to close at 71.44 against the US dollar.
Benchmark NSE Nifty50 index was up 44.45 points at 10,953.15 while BSE Sensex was up 117.74 points at 36,464.82.
Risk is a vague concept for most investors.
"If government’s shares are sold to another PSU, that is really not disinvestment."
The rupee was at 70.89 to the dollar, after touching 70.84, its highest since Dec. 7.
At end-June 2018, the external debt was placed at USD 514.4 billion, recording a decrease of USD 14.9 billion over its level at end-March 2018.
This is the fifth successive session of gain for the domestic currency, during which it has climbed 62 paise.
Total income stood at Rs 2,530.8 crore as against Rs 2,096.1 crore in the same quarter last year.
"Markets to react positively in case of a decisive victory for either NDA or UPA coalition."
Investors stayed away from risk-sensitive assets and bet on safe-haven dollar
The company is committed to maintaining an investment-grade rating for which it may take strategic steps towards deleveraging.
The rupee has lost 64 paise in the last three sessions.
On April 4, net FPI position was minus 1,34,006 contracts at Nifty level of 10,128.
The domestic currency has been trading in a narrow range ahead of RBI's monetary policy meeting outcome, scheduled for February 7.
India has 106 million smokers, second only to China, and a young demographic makes it an attractive market for tobacco companies.
These cos were evading tax by shipping goods ordered by Indians to various cities claiming these were "gifts".
This is the second straight session of loss for the rupee, during which it lost a total 72 paise.
Short interests in the yuan were at the lowest level since March 2017.
The 10-year benchmark bond yield fell to as low as 7.38 per cent.
Let us check out the factors which may bring action to the domestic market through the day.
Benchmark NSE Nifty50 index was up 36.20 points at 10,838.35 while the BSE Sensex was up 168.58 points at 36,149.51 around 11:11 am.
On Monday, the rupee had gained 4 paise to end at 69.68 against the US dollar.
Staying in Asia, the ride-hailing juggernaut Didi Chuxing lost 4 billion yuan or $585 million in the first half of last year.
A massive rally in domestic equities lifted trading sentiment in forex market.
Amidst the perpetual rise and fall, the rates of fuel prices went up for the first time in 2019 with the petrol selling at Rs 68.50 and diesel at Rs 62.24 on Monday, with a rise by 21 paise and 8 paise per litre, respectively.
On Tuesday, the rupee had settled 1 paisa lower at 71.11 against the US dollar.
Reacting to the development, she said things at the university were "comically bad".
Fresh foreign fund inflows propped up the rupee.
High oil prices, a weaker Re and intense fare wars are hurting airlines' profitability.
Forex traders said concerns related to fiscal slippage weighed on the local unit.
According to Motilal Oswal Financial Services, weakness in the dollar against its major crosses has been one of the major reasons that led to the appreciation in the rupee.
"The decrease in the magnitude of external debt was primarily due to valuation gains resulting from the appreciation of the US dollar against the rupee," RBI said
On the macro overview, Standard Chartered expects GDP growth to remain robust in 2019.
These three OMCs account for about 95 per cent of the country's retail fuel sales.
FIEO said that though Rupee has depreciated by over 13% in 2018, the trends in NDF market indicate that further fall is not ruled out, particularly as short-term debt share in India’s external debt is increasing.
Forex traders said foreign fund outflows and a stronger dollar impacted the trading pattern for the local unit.
On Thursday, the Indian rupee, the worst performing Asian unit this year.
The Singapore dollar and Malaysian ringgit both firmed 0.1 per cent.
By 0532 GMT, the rupee was trading at 73.05/06 per dollar.
The rupee rose 0.13 per cent against the dollar since the beginning of this month.
Let us check out the factors which may bring action to the domestic market on Dalal Street.
Rupee climbed 112 paise on Tuesday and registered its best single-day gains in over five years.
Tuesday's 112 paise ascent marked the best day for the rupee since September 19, 2013.
The renowned IT Industrialist noted that technology provides an opportunity for people to move from drudgery to tasks that require more human touch.
Benchmark NSE Nifty50 index was down 68.65 points at 10,419.8 while BSE Sensex was down 260.34 points at 34,699.38.
After reversing deep losses of 2018, the rupee has lost about 3 per cent so far this year.
In Mumbai, petrol prices crossed Rs 90-run mark with the fuel being sold at Rs 91.20 per litre. The diesel price is Rs 79.89 per litre, increased by Rs 0.17.
The Chinese yuan, the Singapore dollar and the Taiwan dollar were marginally firmer.
The rupee settled for the day at 70.67, higher by 23 paise against its previous closing price.
The won weakened as much as 0.9 per cent at one point to 1,128.40 per dollar.
China's factory activity contracted for the first time in over two years in December.
The rupee and the Malaysian ringgit also retreated after softer manufacturing readings.
The approval for new products comes at the most opportune time.
The Nifty IT index was trading with a tepid gain of 0.36 per cent at 16,107 around 11:25 am.
The domestic unit has rallied by a hefty 92 paise in the last three trading sessions.
On year-over-year basis, the rupee depreciated by a whopping 509 paise, or 9.23 per cent.
Benchmark NSE Nifty50 index was up 78.85 points at 10,225.65 while BSE Sensex was up 276.67 points at 34,123.90.
The rupee quickly reversed some of its losses today and was trading at 71.86 to the dollar.
Oil prices jumped sharply after the US and China agreed to a 90-day truce in a trade dispute.
The ongoing hope trade will strengthen in case there is some positive government action, says Suri
The Nifty Pharma index was trading 1.98 per cent up at 10,321.1 around 11 am, with all components in the green.
The Nifty Pharma index was trading 0.81 per cent up at 10,089.8 around 12:11 pm.
That trade gap has been hurting the valuation of the rupee, the worst performing major Asian currency in 2018.
MCX Mentha Oil was up 1.29 per cent at Rs 1709.90 per 1 kg at around 10.30 am (IST).
Foreign portfolio investors (FPIs) bought Rs 1,038.58 crore worth of domestic stocks on Tuesday.
The dollar may continue to enjoy safe haven status, which will be negative for the rupee.
The government is stepping up social spending before general elections in 2019.
The central bank announced the transfer of 500 billion rupees.
Asian currencies could react negatively if US talks with China were to break down
Bearish bets on the Singapore dollar, Taiwan dollar and the Philippine peso declined over the past two weeks.
Continuing its free fall for the fourth straight session, the Indian rupee yesterday hit a record closing low of 68.79, showing a fall of 18 paise against the US dollar.
France, Germany, US, UK and Japan markets are down by near 10 per cent or more.
Indian equity, commodity and forex markets will be closed on Monday for Mahashivratri.
The rupee has been under the pressure in the past few sessions due to big meltdown in the Turkish lira.
Over the last few months, there has been a weakening of South African Rand by 10%, Turkish Lira by over 60% and Indonesian Rupiah by 4-5%.
INR bonds have retained recent gains but struggled to make further headway.
The local currency advanced 26 paise to 71.67 against the US currency on Tuesday.
The S&P BSE Private Banks Index is drawn from the constituents of the S&P BSE Finance Index.
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