Mumbai, India (BBN)-Indian rupee was trading weak at 68.17 on increased demand for the American currency from importers.
According to forex dealers, the dollar’s strength against other currencies overseas also weighed on the rupee but a better trend at the domestic equity market capped the losses, reports The Hindu Business Line.
Extending the previous session losses, the rupee plunged by another 14 paisa to 68.22 against the previous close of 68.08 at the Interbank Foreign Exchange market today.
The domestic unit hovered in a range of 68.26 and 68.12 before quoting at 68.17, down 9 paisa at 4.25 pm local time.
Meanwhile, the 30-share BSE index Sensex ended higher by 50.96 points or 0.19 per cent at 27,308.60.
In the overseas market, the dollar kept broad gains against its major rivals on Thursday, after rebounding sharply overnight on comments by Federal Reserve Chair Janet Yellen suggesting US interest rates could be raised quickly this year.
The greenback was little changed at 114.670 yen.
The US currency rallied nearly 2 per cent the previous day, when it pulled ahead from a seven-week low of 112.570 and snapped a seven-day losing streak.