Rupee trading weak at 67.98

The rupee was trading a tad weak at 67.98 due to dollar's strength against other currencies overseas.

The domestic unit opened weak at 68 against the previous close of 67.96 at the Interbank Foreign Exchange market today. It hovered in a range of 68.02 and 67.81 before quoting at 67.98, down 2 paise at 4.25 pm local time.

In the overseas market, British 10-year government borrowing costs sank below 1 per cent on Monday for the first time ever and sterling tumbled to a fresh 31-year low against the dollar as investors bet Britain's vote to leave the EU will trigger a Bank of England rate cut.

Sterling shed more than 3 per cent against the dollar to a fresh 31-year low of $1.3221, and the euro rose more than 2 per cent to 83.25 pence, its highest in more than two years.

China weakened the yuan’s fixing almost one per cent to a five-and-half-year low against the dollar today, officials said, the biggest downward move since August as the greenback surged after Britain’s vote to leave the European Union.

Meanwhile, the benchmark BSE Sensex ended up by 5.25 points or 0.02 per cent at 26,402.96.