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The rupee weakened to 64.30 as the Reserve Bank of India , in its monetary policy review, has kept the repo rate unchanged at 6 per cent.
Dealers said the dollar’s weakness against other currencies overseas and losses in domestic equities also weighed on the rupee.
The rupee opened strong at 64.10 at the interbank foreign exchange market today. It hovered in a range of 64.30 and 64.03 before quoting at 64.28 at 4.40 pm local time.
Yesterday, the rupee had tumbled 17 paise to end at a fresh seven-week low of 64.24 against the US dollar.
According to provisional exchange data, foreign investors had sold shares worth Rs 2,326.10 crore on a net basis yesterday.
Meanwhile, t he benchmark Sensex ended the session down by 113 points as the Reserve Bank of India kept the repo rate unchanged at 6 per cent but lowered the economic growth projection to 6.6 per cent for 2017-18 from 6.7 per cent.
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