WEEKLY CURRENCY REPORT:RUPEE REGISTERED A FALL OF 16 PAISE AGAINST US DOLLAR

On a weekly basis, the rupee depreciated 16 paise or 0.12 per cent at 73.24 against US dollar and erased its gains on Friday. USD/INR touched low at 72.90 and high at 73.46. On Monday, The rupee settled 11 paise higher against USD at 73.00, supported by sustained foreign fund inflows and weakness of the American currency in the overseas market. The rupee depreciated by 16 paise to settle at 73.18 against the US dollar on Tuesday even as the domestic equity markets settled with significant gains on Tuesday. Indian rupee today jumped against the US dollar to settle at Rs 73.11, 8 paise higher amid sustained foreign fund inflows and weaker American currency against major rivals on Wednesday. The rupee dived 18 paise to settle at 73.31 against the US dollar on Thursday. The Indian rupee staged a smart recovery from the day's lowest level to end 8 paise higher at 73.24 against the US dollar on Friday, tracking an intense rally in domestic equities.