After falling 77 paise to 62.39 against dollar on Tuesday, the rupee opened at 62.35 but fell to intra-day low of 62.73.
This mirrored the uneasiness in the domestic stock market after S&P warned it could downgrade India if the next government fails to reverse the slide in GDP growth.
Mild dollar demand from banks and importers also weighed. on the rupee. However, it clawed its way back to end at 62.41, down just 2 paise or 0.03 per cent compared to Wednesday, after the US currency held steady in the overseas markets.
"Any upside surprise to the US GDP numbers will result in gains in the dollar and hence will lead to weakness in all Asian currencies including rupee.
Technically, if the USD/INR sustains above 62.20 levels for next couple of sessions, then we can see 63 plus levels," said Abhishek Goenka, Founder &
Rupee to stabilise in a day or two: FinMin
Rupee falls 27 paise to 61.50 vs dollar
COLUMN: Of Raghuram Rajan and a few natural-born biases
Rupee ends at 61.74 versus US dollar, down 24 paise
World gets richer: Record 2,170 billionaires!