Besides, weak equity market sentiment and elevated levels of crude oil prices -- hovering above USD 92 a barrel -- weighed on the domestic currency, forex traders said
The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment
"The Indian rupee faced pressure due to an advancing dollar index, driven by hawkish remarks from Federal Reserve officials, according to forex traders."
Halting its four-session losing streak at the interbank foreign exchange, the domestic unit opened strong at 83.22 against the dollar and traded in the range of 83.27-83.06 against the greenback
However, a sell-off in the domestic equity markets and a strong American currency against major rivals overseas restricted the rupee's rise, traders said.
The rupee continued its upward trend for the second straight session and appreciated by 9 paise to 82.93 against the US dollar in early trade on Monday
The US dollar is on track for its eighth consecutive week of gains against a basket of major currencies, marking its strongest performance since the winter of 2014-2015. According to CNN, it has surged by 5% since mid-July.
The rupee fell 2 paise to hit the lowest level of 83.15 against the US dollar in early trade on Thursday amid a strong American currency and elevated crude oil prices
