Mumbai, India (BBN)- Indian rupee was trading weak at 65.42 on fresh dollar demand from importers despite weak dollar and sustained capital inflows into the domestic equity market.
The dollar dipped on a growing sense that the Federal Reserve will keep deferring a raise in US interest rates, reports the PTI.
New research from Goldman Sachs predicted it would wait until well into 2016.
Earlier, the domestic unit opened at 65.27 against the previous close of 65.29 on sustained dollar selling amid firm domestic equity market.
However, it weakened to 65.44 before quoting at 65.42, down 13 paise at 4.50 pm local time.
The local currency hovered in a range of 65.44 and 65.25 in the evening trade.
The rupee had risen by 22 paise to close at a seven-week high of 65.29 per dollar yesterday on persistent selling of the American currency by banks and exporters amid firm equities.
Meanwhile, the benchmark BSE Sensex ended higher by 147.33 points or 0.55 per cent at 26,932.88.