The rupee wiped off its losses and was trading strong at 66.61 as the yen was holding strong on Monday in the face of another volley of promises from the Bank of Japan to do everything necessary to get inflation back on the rise, including cutting interest rates further into negative territory.
All eyes will be on the first US presidential debate later , with the chances of a Donald Trump presidency, and the protectionist boost for the dollar many analysts think it might imply, moving to the front of investors’ minds.
The domestic unit opened weak at 66.77 against the previous close of 66.65 at the Interbank Foreign Exchange market today.
It hovered in a range of 66.78 and 66.61 before quoting at 66.61, up 4 paise at 4.55 pm local time.
Meanwhile, the benchmark BSE index ended down 373.94 points or 1.3 per cent at 28,294.28, after posting its biggest intraday percentage fall since September 12.