On Friday, the rupee ended at 63.94 to a dollar, compared with the previous close of 64.24
Rupee gains after five session of loss, recovers from 20-month low
Exporters and banks preferred to reduce their dollar position on hopes of resumption of foreign capital inflows on the back of recovery in the equity market
Forex analysts expect rupee to trade at 63.47 a dollar by May-end
A policymaker says this is the governor's 'next big ambitious goal'
Indian currency seen 10% overvalued based on real effective exchange rate; Sensex drops to 5-month low as foreign investors satiate appetite elsewhere
Weighed down by concerns over govt's taxation policies
Besides, increased demand for dollar from importers and banks weighed on the local currency, forex dealers said
The rupee is expected to weaken further in the next few days
It hovered in the range of 63.59 to 63.46 during morning deals
On Thursday, the rupee had depreciated to 63.42 to a dollar, compared with the previous close of 63.31 to a dollar
To help debt fund managers in portfolio diversification
Six TAC meetings held since Raghuram Rajan took over as central bank's governor in Sept 2013
While 49% FDI has been allowed in the insurance sector, there are several issues that still concern Indian companies and their foreign partners
Persistent capital outflows put pressure on the currency
Indian unit opens sharply lower at 63.52 to last closing of 63.30, slumps further to 63.58 before quoting at 63.47 at 1100 hrs
Month-end demand for the American currency from importers amid capital outflows affected the rupee
The rupee may trade at 63.75 a month down the line
Accoding to a forex dealer, strong recovery in the equity market boosted the rupee value