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The rupee weakened by 10 paise to end at 65.11 against the dollar due to renewed demand for the US currency from importers.
The dollar made headway as the euro hit a two-month low against the yen on Monday, as German Chancellor Angela Merkel's efforts to form a three-way coalition government failed, raising concerns over political uncertainty in the euro zone's largest economy.
Forex market sentiment turned little nervous and witnessed lethargic trade as currency traders preferred to stay on the sidelines after the rupee’s remarkable breakout over the weekend
The domestic unit opened a tad up at 65.00 at the Interbank Foreign Exchange market today. It hovered in a range of 65.12 and 64.97 before closing at 65.11, down by 10 paise.
A sudden rebound in global crude prices after its two-day fall also added to the pressure on the trading front
On Friday, the rupee had bounced back in style to end at a one-week high of 65.01 as Moody’s upgraded India’s sovereign credit rating.
Meanwhile, the benchmark BSE Sensex ended marginally higher by 17.1 points or 0.05 per cent at 33,359.90.
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