Extending losses against the US dollar for the third day, the rupee today plunged by 38 paise to hit one-week low of 67.14 on persistent demand for the American currency from banks and importers in view of sharp fall in domestic equities.
The rupee opened lower at 67.07 against last Friday’s closing level of Rs 66.76 per dollar at the Interbank Foreign Exchange (Forex) market and dropped further to 67.19 before ending at one-week low of 67.14, showing a loss of 38 paise or 0.57 per cent.
The rupee has dropped 49 paise or 0.74 per cent in the last three days. The rupee had last ended at 67.25 per dollar on June 3, 2016. The rupee hovered in a range of 66.94 and 67.19 per dollar during the day.
Meanwhile, the dollar index was down by 0.16 per cent against the basket of six global currencies in the late trade.
The RBI fixed the reference rate for the dollar at 67.0737 and euro at 75.5116.
In cross-currency trades, the rupee firmed up further against the pound sterling to close at 95.24 from the last weekend’s level of 96.24 while moved down against the euro to 75.67 from 75.46 per euro previously.
The domestic currency also fell against the yen to 63.33 from 62.47.
In the global market, the US dollar traded mixed against its major rivals in early Asian trade, while the British pound fell to an eight-week low against the dollar ahead of a referendum that could pull Britain out of the European Union.