The rupee today drifted further down by 7 paise to end at a fresh one-week low of 64.15 against the US dollar due to month-end demand for the American currency from importers and banks.
Sustained capital outflows and a sudden spike in crude oil prices globally too largely weighed on the forex market, though sluggish dollar overseas capped the losses.
Weak local equities also added to volatility.
At the Interbank Foreign Exchange (forex) market, the rupee opened a tad higher at 64.06 from overnight close of 64.08 tracking firm local equities.
But, it drifted gradually to hit an intra-day low of 64.18 in mid-morning deals on month-end dollar demand from importers and corporates.
After regaining some lost ground, the local unit finally settled at 64.15,
This is the lowest closing for the home currency since December 18.
According to analysts, the dollar was firm against a few global currencies, but the strength in domestic equities came as a buffer for the rupee's losses.
The domestic unit opened a tad up at 64.07 at the Interbank Foreign Exchange market today. It hovered in a range of 64.18 and 64.07 before quoting at 64.15, down 7 paise at 4.30 pm local time. Yesterday, the rupee had ended lower by 3 paise at 64.08 in a quiet trade.
The 30-share BSE index Sensex ended the session down by 98.80 points or 0.29 per cent at 33,911.81, after earlier rising as much as 0.37 per cent to a record high of 34,137.97.