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The rupee was still trading weak by 4 paise at 66.14 against the US currency in the evening session in the midst of sustained demand for dollars from banks and importers.
The Indian unit opened weak at 66.22 per dollar against yesterday’s level of 66.10 at the Interbank Foreign Exchange (Forex) market.
It hovered in a range of 66.38 to 66.06 per dollar during the morning deals before quoting at 66.14 at 4.35 p.m. local time.
The dollar edged up against the euro and yen on Wednesday, as China’s policy easing steps halted a slide in the region's equity markets and prevented a further worsening in risk sentiment for now.
The US currency was up 0.8 per cent at 119.77 yen, albeit off the high of 120.40 scaled overnight. It managed to pull away from a seven-month low of 116.15, after China’s central bank cut interest rates for the second time in two months late on Tuesday.
The greenback traded above 125 yen less than two weeks ago, before widespread risk aversion prompted investors to buyback the yen and euro — currencies used to fund investments into riskier assets.
Meanwhile, the benchmark BSE Sensex ended lower by 317.72 points or 1.22 per cent at 25,714.66.
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