Falling for the sixth consecutive session, the rupee weakened by 4 paise to 66.16 against the U.S. dollar in opening trade at the interbank foreign exchange market on Monday, amid foreign capital outflows.
Forex dealers said, sustained demand for the American currency from importers and dollar strength against other currencies overseas, bolstered by rising U.S. bond yields, weighed on the domestic unit.
On Friday, the rupee had crashed below the key 66 level to close at a 13-month low of 66.12 against the U.S. currency, hit by a resurgent dollar, firming crude prices and a more hawkish tone of the Reserve Bank.
Meanwhile, the benchmark BSE Sensex rose by 78.11 points, or 0.22%, to 34,493.69 in early trade.
On a net basis, foreign portfolio investors (FPIs) sold shares worth a net ₹21.02 crore on Friday, provisional data showed.
