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The rupee slid for the ninth day as it depreciated by 26 paise to trade at over 2-1/2 month low of 67.75 against the dollar today on sustained foreign fund outflows.
Besides, persistent demand for the American currency from importers and banks and dollar’s strength against other currencies overseas on renewed possibility of the US Fed raising borrowing costs as early as June weighed on the rupee sentiment, forex dealers said.
The domestic unit opened weak by 13 paise at 67.64 against the previous close of 67.49 at the Interbank Foreign Exchange market today.
It hovered in a range of 67.75 and 67.59 in the afternoon trade before quoting at 67.70 at 4.45 pm local time.
In the overseas market, the yen held on to gains on Tuesday, shored up by investors’ risk aversion and receding expectations that Japan will weaken the currency after a fresh warning by the United States last week against intervention.
The dollar nudged up 0.1 per cent to 109.385 yen, having fallen to as low as 109.120 on Monday when it shed nearly one per cent.
Meanwhile, the benchmark BSE Sensex ended up 75.11 points or 0.3 percent at 25,305.47.
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