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The rupee weakened by 37 paise to 68.07 against the US dollar at the interbank forex market on fresh demand for the greenback from importers and banks.
The rupee sentiment was also hit as crude oil breached the $80 per barrel mark in global market. Weak domestic equity market too weighed on the investor sentiment here.
Dealers attributed the rupee’s fall to increased demand for the US currency from importers and foreign fund outflows. However, dollar’s weakness against some currencies overseas capped the losses.
The domestic unit opened weak by 8 paise at 67.78 at the forex market today. It hovered in a range of 68.07 and 67.76 before ending at 68, down 30 paise at 5 pm local time.
Yesterday, the rupee had managed to hold its ground against the US currency, gaining by 10 paise to end at 67.70 per dollar. Meanwhile, the benchmark BSE Sensex ended lower by 300.82 points or 0.86 per cent at 34,848.30.
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