At the interbank foreign exchange, the Indian currency opened weaker at 71.65 a dollar and went on to touch the day's lowest level at 71.97. It finally settled at 71.81, down 26 paise against the American currency.
The rupee, which lost 3.6 percent on Thursday to close at 146.2 against the U.S. dollar in the interbank market, dropped further on Friday, dealers said, selling at 149.50 in the interbank market and 150 in the open market.
Stating that there are some more steps on the anvil to narrow the CAD and bolster forex inflows, Finance Minister Arun Jaitley said the government has already adopted some steps and some more measures are likely to be taken.
The two-day monetary policy meeting concludes on Wednesday. Fresh demand of the US currency from importers, traders said, weighed, but domestic equities soaring to new high sand the dollar's weakness against other currencies overseas arrested the rupee's fall.
Led by the Congress party, a united Opposition called for a Bharat Bandh on Monday over rising fuel prices and falling value of the rupee. The protest turned violent in some states, causing damage to public property. While Congress President Rahul Ga