Extending losses for the third straight session, the rupee today lost 28 paise to end at an over one—week low of 53.50, due to sustained dollar demand from importers amid sluggish local stocks.
Forex dealers said capital inflows worth nearly USD 280 million could not stem the fall in rupee.
The local unit started the day’s trade on a weak note at 53.44 against yesterday’s close of 53.22 at the Interbank Foreign Exchange (Forex) market.
It moved in a narrow range of 53.42—53.65, before settling at 53.50, a loss of 28 paise, or 0.53 per cent.
The BSE benchmark Sensex today lost 96 points to hit this year’s lowest level at 19,484.77.
“The rupee weakened against the US dollar today, taking cues from sluggish domestic stocks and fall in euro yesterday.
The dollar index was down by 0.25 per cent against a basket of six major currencies as the euro today stabilised against the dollar as market focus returned to signs that the euro—zone economy was calming down.