The rupee on Tuesday fell by another 18 paise to close at 66.71 a dollar on persistent demand for the American currency from banks and importers on the back of higher greenback overseas despite sustained foreign capital inflows in domestic equities.
The rupee resumed lower at 66.58 per dollar as against the yesterday’s closing level of 66.53 at the Interbank Foreign Exchange market and dropped further to 66.84 on sustained dollar demand from banks and importers before ending at 66.71, showing a loss of 18 paise or 0.27 per cent.
The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions.
It hovered in a range of 66.52 and 66.84 per dollar during the day.
The dollar index was up by 0.22 per cent against a basket of six currencies in the late afternoon trade.
The dollar climbed yesterday, paring its weekly decline last week. The US dollar steadily strengthened against its main rivals during Monday’s session after two regional Fed presidents said they would support the Federal Reserve raising interest rates at its April meeting.