The demand of dollars by the importers in inter-bank market pushed the rupee-dollar parity rates down on the November 22, losing more than 10 paisa in a single day slide to trade at Rs59.70 and Rs59.72.

Dollar-supply had shrunk in the absence of exporters. Continued payment requirements also did not allow the rupee to give up its weakness versus dollar.

On November 23, the rupee lost 10 paisa against the dollar changing hands at Rs59.80 and Rs59.82. Demand for dollars had risen since last week due to an increase in machinery import payments. On November 24, the continued demand for dollars hurt the rupee's firmness, which shed two paisa trading at Rs59.80 and Rs59.85.

On November 25, range-bound trading was noticed in the inter-bank market, as the rupee-dollar parity moved slightly on comfortable supply of the greenback. The rupee traded at Rs59.84 and 59.86 per dollar amid higher demand by the corporate sector.

Increased demand for dollars pushed the rupee slightly lower on November 26, shedding three paisa to trade at 59.88 and 59.90. During this week the rupee in the inter-bank market shed 18 paisa against the US currency.

In the open market, the rupee most of the time held on to its present levels at Rs60.10 and Rs60.20 per dollar in the process of trading on November 22. Dollar-supply eased in the market as the rupee held firm versus dollar on its comfortable supply.

On November 23, the rupee tended lower versus dollar and shed five paisa to trade at Rs60.15 and Rs60.25. On November 24, the rupee hovered around the present levels versus dollar changing hands at Rs60.10 and Rs60.15. The rupee gained five paisa to trade at 60 and 60.10 for a dollar on November 25.

The rupee maintained its overnight levels versus greenback on November 26, changing hands at Rs60 and Rs60.10. The rupee managed to recover 10 paisa against the dollar in the open market during this week's trading.

The European single currency, euro, continued its ride over rupee on rising its value in the international markets versus dollar. Due to persistent rise in the local market on November 22, the euro gained 25 paisa versus rupee changing hands at Rs77.55 and Rs77.85. It was unmoved versus rupee on November 23, and traded at Rs77.55 and Rs77.85. The euro maintained its surge versus rupee on November 24, gaining more 45 paisa at Rs78 and Rs78.30.

On November 25, the euro maintained its surge versus the rupee, picking up 30 paisa more trading at Rs78.30 and Rs78.60 after expanding its ground versus the dollar in the world markets.

The euro maintained its surge versus rupee, gaining 65 paisa to trade at Rs78.95 and Rs79.25 on November 26. This is second time when the euro has crossed Rs79 mark in this week. In the week, the rupee lost 165 paisa against the euro.

In the international financial markets, the dollar slipped against the euro on November 22, in thin trading after a weekend meeting of the Group-20 finance ministers and central bankers in Berlin offered no concrete measures to stem the dollar's decline. The US markets remained closed on November 25, for the Thanksgiving holiday.

In New York, the euro was up 0.20 per cent at $1.3043 compared with last week close and close to its record high of $1.3074 reached last week. The dollar was up slightly against the yen at 103.15 yen but flat against the Swiss franc at 1.1625 francs.

Sterling plumbed an 11-month low against the euro, rattled after a survey showed the British housing market had slowed sharply. In London, the pound was also slightly weaker against a struggling dollar at $1.8552.

On November 23, the dollar fell to fresh lows against the euro in partly technically-driven trade as a renewed rise in oil prices weighed on the US currency. In New York, the euro was up 0.3 percent at $1.3078. Earlier it climbed as high as $1.3105.

The dollar was stronger against the yen, edging up roughly 0.1 per cent to 103.32 yen, largely on the back of a 0.4 rise in euro/yen to 135.16 yen. Against the dollar, the pound was 0.25 per cent weaker at $1.8550 as the US currency recovered from recent record lows against the euro and nine-year lows against a basket of major currencies.

On November 24, the dollar dropped to fresh all-time lows against the euro in a pre-holiday-thinned session as a mixed batch of US economic data did little to ease heavy selling pressure. The US currency also fell to nine-year lows against the Swiss franc and 4-1/2 year troughs against the yen, weighed down by concerns over the massive US trade deficit.

In New York, the euro was up at $1.3177 just below the record high of $1.3178 reached earlier in the session. Against the yen, the dollar, which hit a new four-and-a-half year low around 102.58 yen earlier, was down at 102.87 yen. Sterling, meanwhile, rose to $1.8804. Sterling rose as high as $1.8813, its highest since February, before easing back to $1.8796.

The financial markets in New York were closed on November 25, being Thanksgiving holiday in the US. In London, Sterling hit a nine-month high against the struggling dollar for a second day, benefiting from the greenback's slide against major currencies as the focus on US deficits continued to weigh.

The pound inched higher versus the euro, pulling further off an 11-month low set on November 22. It rose as high as $1.8895, its strongest since February, before easing to $1.8880. It was up 0.44 per cent from its levels in New York overnight trading.

On November 26, the dollar fell to a record low against the euro and a 4-1/2 year low versus the yen as traders seized on a report that China has pared down its US Treasury bond holdings in foreign exchange reserves to $180 billion, trying to minimise losses from a falling dollar.

The dollar fell to a record low against the euro of around $1.3330. Against the yen, the dollar fell to its lowest level since March 2000 at 102.15 yen. Pound sterling hit a nine-month high above $1.90 and is approaching a 12-year peak beyond $1.9142.

The dollar has lost nearly 9 per cent against the euro and yen since early October as traders have speculated that the US prefers a weaker currency to deal with its record-breaking current account deficit.