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The rupee weakened by 57 paise to 68 against the US dollar on fresh demand for the greenback from importers and banks.
Dealers attributed the rupee’s fall to increased demand for the US currency from importers and foreign fund outflows. Besides, a weak domestic equity market too weighed on the rupee.
The domestic unit opened weak by 22 paise at 67.65 at the interbank foreign exchange market today. It hovered in a range of 68 and 67.65 before ending at 67.87, down 44 paise at 5 pm local time.
According to provisional data, foreign portfolio investors had sold shares worth Rs 795.06 crore yesterday.
The rupee had surged by 35 paise to end at a new two-week high of 67.43 against the US dollar yesterday after a surprise crash in crude prices quickly faded near-term trade deficit and inflation worries.
Meanwhile, the benchmark BSE Sensex ended lower by 216.24 points or 0.61 per cent at 34,949.24.
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