The rupee weakened to 68.76 due to strengthening of dollar against other currencies overseas and sustained FII outflows from the domestic equity market. The dollar extended its gains against the yen to hit a fresh six-week high of 111.06 yen.
The Japanese currency was unmoved by the Bank of Japan's tankan business sentiment survey, which showed a slight dip in big Japanese manufacturers' sentiment.
The rupee opened strong at 68.40 on increased selling of the US currency by exporters and banks. It hovered in a range of 68.76 and 68.33 before quoting at 68.73, down 27 paise at 4.25 pm local time.
On Friday, the rupee had gained 33 paise to 68.46 against the US dollar, in line with a big relief rally in domestic equities. Meanwhile, the benchmark BSE Sensex ended lower by 159.07 points or 0.45 per cent at 35,264.41.
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