The Indian rupee was trading lower by 16 paise at 66.87 against the US dollar in early trade today on higher demand for the American currency from importers and banks.
In line with the equity market, the rupee today extended losses against the American currency, slipping by another 5 paise to close at 66.76 on persistent dollar demand from banks and importers.
The rupee opened lower at 66.80 a dollar against the overnight closing of 66.71 at the Interbank Foreign Exchange (Forex) market and hovered in a range of 66.73 and 66.88 before ending at 66.76, still showing a loss of 5 paise or 0.07 per cent.
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It has lost 11 paise or 0.17 per cent in last two days.
Meanwhile, the dollar index was up by 0.16 per cent against the basket of six global currencies in the late afternoon trade.
Meanwhile, the RBI fixed the reference rate for the dollar at 66.7948 and euro at 75.4714.
In cross-currency trades, the rupee firmed up against the pound sterling to end at 96.24 from 96.51 yesterday and also moved up against the euro to 75.46 per euro from 75.65.
The domestic currency also looked up against the yen to 62.47 per 100 yens from 62.60 yesterday.
Overseas, the US dollar was mostly down against its major rivals in early Asian trade, but was on track for a modest weekly gain, having bounced off this week’s one-month lows as the euro took a heavy spill while sterling stayed under a cloud on jitters over the upcoming Brexit vote.