The rupee was trading weak at 66.91 in the evening session as the Sensex fell to its lowest level in three months after the minutes of the US Federal Reserve’s September meeting indicated a possible rate hike this year.
Forex dealers said increased demand for the US currency from importers and the greenback’s gains against other currencies overseas after minutes of the Federal Reserve’s last meeting pointed at an interest rate hike this year put pressure on the rupee.
The domestic unit opened lower by 29 paise at 66.82 against the American currency in early trade today at the Interbank Foreign Exchange market today.
It hovered in a range of 66.76 and 66.95 before quoting at 66.91, down 38 paise at 4.50 pm local time.
On Monday, the rupee had gained 15 paise to end at 66.53 against the American currency on hopes of more foreign capital inflows.
Forex market remained closed on Tuesday and Wednesday on account of Dussehra and Muharram, respectively.
Meanwhile, the benchmark BSE index ended 439.23 points or 1.56 per cent lower at 27,643.11. It earlier hit its lowest level since July 11.