Mumbai:- Piling on yesterday’s massive loss, the rupee today fell by another 18 paise to close at a 4-week low of 68.24 on month-end dollar demand from importers coupled with sustained foreign capital outflows.
Besides, the dollar strengthening against rivals in the overseas market also added to the pressure on the domestic currency, a forex dealer said.
The rupee opened lower at 68.10 as against the last closing level of 68.06 at the Interbank Foreign Exchange market and dropped further to 68.25 before ending at a 4-week low of 68.24 per dollar, showing a loss of 18 paise or 0.26 per cent.
The rupee had last ended at 68.34 per dollar on December 1, 2016.
The rupee has lost 50 paise, or 0.74 per cent, against the dollar in two days.
The domestic unit hovered between 68.09 and 68.25 per dollar during the day.
“The rupee continued to trade negative with low volatility due to higher dollar overseas amid sustained capital outflows,” a forex trader said.
Meanwhile, the dollar index was trading higher by 0.32 per cent against a basket of six currencies in the late afternoon trade.
Overseas, the dollar inched up against the yen today after upbeat US economic data reinforced expectations for economic growth under Donald Trump’s Administration and more rate hikes by US Federal Reserve next year.
Meanwhile, the benchmark Sensex ended barely steady at 26,210.68. .
PTI
