Extending losses for the second day, the rupee on Wednesday plummeted by another 22 paise to close at a 29-month low of 68.05 against the dollar on sustained demand for the American currency from banks and importers amidst lower greenback overseas.
The month-end dollar demand from importers, mainly oil refiners, affected the rupee value against the dollar, a forex dealer said. Intraday, the domestic unit traded in the 67.90-68.08 range.
The rupee has lost 42 paise or 0.62 per cent in the last two trading days.