Mumbai, India (BBN)-The rupee weakened to 68.27 against the US dollar following bouts of dollar demand from importers amid drop in domestic equities as well as bullish dollar overseas.
The rupee opened higher at 68.09 per dollar as against last Friday’s closing level of 68.13 at the Interank Foreign Exchange (Forex) market on Monday, reports The Hindu quoting the PTI.
Later, it hovered in the range of 68.27 to 68.08 per dollar during the morning deals, before quoting 68.16, down 3 paise at 4:05pm local time (India).
The dollar fell 0.3 per cent against a basket of six peers but still held close to its highest levels since early 2003.
Meanwhile, the benchmark BSE Sensex ended lower by 385.10 points or 1.47 per cent at 25,765.14.