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The rupee weakened to 64.95 due to fresh dollar demand by banks and importers.
According to forex dealers, a firm domestic equity market restricted the rupee's losses.
The domestic unit opened strong by 9 paise at 64.80 at the Interbank Foreign Exchange market today. It hovered in a range of 64.95 and 64.71, before quoting at 64.94, down 5 paise at 4.35 pm local time.
Yesterday, the rupee had gained 22 paise to end at a two-week high of 64.89 against the dollar, cashing in on positive sentiment after Moody’s upgrade of India’s credit rating.
Meanwhile, the 30-share BSE index Sensex closed up 83.2 points or 0.25 per cent at 33,561.55.
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