The rupee weakened to 64.13 as the dollar hit an eight-week high against the yen, supported by a rise in US Treasury yields, as traders eyed a Federal Reserve meeting starting the next day for clues on whether interest rates could rise again by year-end.

However, a strong domestic equity market restricted the rupee's losses.

The domestic unit opened strong at 64.08 against the previous close of 64.05 at the Interbank Foreign Exchange market today. It hovered in a range of 64.13 and 63.99 before quoting at 64.11, down 6 paise at 4.35 pm local time.

The greenback recorded its best week against the Japanese currency since November last week, gaining 2.8 per cent, as a rise in US yields bolstered its appeal and as data showing a pick-up in US consumer prices helped rekindle expectations that the Fed could hike rates again in December.

Meanwhile, the NSE index Nifty today closed at a record high of 10,153.10 and the Sensex surged by 151 points to end at a six-week high led by banking, capital goods and auto stocks due to unabated buying by domestic institutional investors and positive global cues.

Related Topics