The rupee, on Monday, slipped a further 3 paise to close at 68.16 to the dollar on sustained dollar demand from importers amidst a fall in stock markets. Persistent foreign capital outflows affected the rupee value against the dollar, a forex dealer said. However, weakness of dollar in overseas markets restricted the rupee fall against the dollar, the dealer said.
The rupee opened higher at 68.10 a dollar against Friday’s closing level of 68.13 at the Interbank Foreign Exchange (forex) market and firmed up further to 68.07 per dollar. However, it failed to maintain initial gains and dropped to 68.27 a dollar before finishing at 68.16 a dollar.