The rupee lost its value against dollar in interbank market on rising demand for the greenback by corporate sector to clear oil and other major payment bills, money market men said.
However, in the open market, the rupee gained five paisa versus dollar for buying at Rs 60.10 and rose by 10 paisa for selling at Rs 60.15.
The rupee followed suit versus the euro and held firmness at Rs 70.05 and Rs 70.15 for buying and selling, respectively.
In the interbank, the rupee shed nine paisa against dollar for buying and selling at Rs 59.83 and Rs 59.84, respectively, they said.
In the early sessions of the week, comfortable supply of dollars helped the rupee to hold its firmness. Later, as demand for dollars increased by banks to clear big payments, the rupee surrendered its firmness in terms of the greenback, they said.
However, towards the close of the week, higher demand for dollars kept the rupee under pressure, as importers made a rush for forward buying, dealers said, adding that this factor hurt the rupee.
Some positive indications were likely to boost the basic fundamentals, such as revenue collection exceeded the target when the Central Board of Revenue (CBR) said it had collected Rs 243.2 billion since the beginning of the current fiscal year. Besides, defending the process of the government, the Prime Minister said last week that economic policies of the government would continue to bring improvement in the common man's life.
The dollar mainly moved both ways on expectations about the rise in the interest rates by the Federal Reserve and the European Central Bank in the coming days.
The dollar traded in a tight range ahead of economic data in the US and expectations of increase in the interest rates by the Federal Reserve and the European Central Bank (ECB).
In the middle of the week, the euro was in sight of a lifetime high against the yen ahead of an expected rate rise by the European Central Bank (ECB), while the dollar held near a two-year peak versus the Japanese currency.
The euro managed to gain modestly versus major currencies. The European Central Bank raised the key rate to 2.25 percent on Thursday, triggering the euro's rise to an all-time high against yen, though a tepid outlook for future tightening prompted selling versus dollar. At the weekend, the single European currency gave up some gain on robust US job data.
The rupee lost 10 paisa against euro for buying and selling at Rs 70.10 and Rs 70.20, dealers said.
On Tuesday, the rupee recovered five piasa on the buying side at 60.10 and picked up 10 paisa on the selling side at 60.15.
The rupee failed to hold on to its overnight levels versus euro and lost 60 paisa for buying and selling at Rs 70.70 and Rs 70.80, respectively, dealers said.
On Wednesday, the rupee was firm versus dollar on balanced demand and supply at 60.10 and 60.15 for buying and selling, respectively, dealers said.
It shed 30 paisa versus euro for buying and selling at 70.40 and Rs 70.50 amid modest trading, dealers said.
On Thursday, there was no change versus dollar for second consecutive day at 60.10 and 60.15, dealers said.
Similarly, the rupee did not budge to any side in relation to euro for buying and selling at 70.40 and Rs 70.50, dealers said.
On Friday, the rupee-dollar parity rates remained unchanged at 60.10 and 60.15 for buying and selling, dealers said.
The rupee gained 25 paisa versus euro for buying and selling at 70.15 and 70.25, dealers said.
On Saturday, the rupee maintained its overnight levels versus dollar. Versus euro, the rupee recovered 10 paisa for buying and selling at 70.05 and Rs 70.15.
On November 29, the rupee gave up its overnight gains versus US currency, losing three paisa for buying and selling at 59.77 and 59.78, respectively.
On November 30, the rupee moved slightly versus dollar for buying and selling at 59.75 and 59.77, respectively.
Easy availability of dollars boosted the rupee in terms, dealers said.
On December 1, the rupee shed two paisa against dollar for buying and selling at 59.77 and 59.79, marketmen said. Dollar supply was tight amid rising demand by both foreign and local banks, they said.
On December 2, sliding trend persisted in the interbank market as the rupee continued its weakness against dollar shedding six paisa for buying and selling at 59.83 and 59.85, marketmen said.
Different banks were in the market to cover the near-term demand, additionally, importers indulged in hectic buying of dollars in anticipation of more increase in the rupee-dollar parity rates, money experts said. As a result, the country's reserves dropped by 110 million dollars to 11.415 billion dollars.
On December 3, the rupee firmed up and did move sharply amid low activity, dealers said.