dollar premiums dropped further on persistent receipts by exporters.
The benchmark six-month forward US dollar premium payable in May moved down to 245-247 paise from 249-251 paise previously and far-forward contracts maturing in November declined to 484-1/2 to 486-1/2 paise from 489-491 paise.
The RBI fixed the reference rate for the dollar at 61.6200 and for the euro at 84.9820.
The Indian rupee fell to 101.38 against the pound from yesterday's close of 100.39 and to 85.14 per euro from 84.32. It moved down to 60.15 per 100 Japanese yen from 59.76.