The year 2013 was certainly one rollercoaster ride for the rupee. The local currency was on a downward journey for most part of the year, and dipped to it’s lowest-ever levels in September.

It took multiple central bank interventions and some stern statements from the finance minister to put the rupee on the path of recovery in December. From December 1-to date, the rupee appreciated by 4.5 per cent against the dollar and by 3.7 per cent against the euro.

Yet, for the January 1 to December 27 period, the rupee depreciated by 7.9 per cent against the dollar in the interbank market and 6.9 per cent in the open market. It depreciated by 11 per cent against the euro during the same period.

The rupee commenced the last full week of 2013 against the dollar in the interbank market unchanged from the prior week’s closing level of Rs106.15 and Rs106.18.

It then picked up 60-paisa in the second trading session, as the dollar ended the day at Rs105.55 and Rs105.60. Markets were then closed on December 25 on account of Christmas and Quaid-e-Azam’s birth anniversary.

On December 26, the rupee managed to gain 15-paisa on the buying counter and 18-paisa on the selling counter against the dollar, which closed the day at Rs105.40 and Rs105.42.

However, the dollar bounced back against the rupee in the last trading session, gaining 12-paisa on the buying counter and 13-paisa on the selling counter to close the week at Rs105.52 and Rs105.55. Yet, the rupee gained a net 65-paisa against the greenback in the open market last week.

In the open market, the dollar ended the first trading session nearly unchanged at the prior week’s close of Rs105.60 and Rs105.80. In the second trading session, the rupee gained 40-paisa against the greenback, which closed the day at Rs105.20 and Rs105.40.

When trading resumed on December 26, the rupee posted another 45-paisa gain against the dollar, which reportedly fell to its six-month low of Rs104.75 and Rs104.95.

However, the dollar gained 25-paisa against the rupee in the last trading session to close the week at Rs105.00 and Rs105.20. Yet, the rupee was still up by a net 60-paisa against the dollar in the open market last week.

But the rupee didn’t fare so well against the euro last week. It began the week with a 15-paisa loss in the first trading session, as the euro closed the day at Rs144.25 and Rs144.50, against the prior week’s close of Rs144.10 and Rs144.35.

The rupee, however, bounced back in the second trading session, gaining a big 125-paisa to push the euro lower at Rs143.00 and Rs143.25. On December 26, the rupee surged by another 100-paisa, as the euro ended the day reportedly at its five-month low of Rs142.00 and Rs142.25.

However, the euro gained a huge 320-paisa against the rupee in the last trading session to close the week at Rs145.20 and Rs145.45. Due to this sharp fall, the rupee posted a net loss of 110-paisa against the euro.