Even the persistent rise in equity market failed to restrict the rupee's fall.
The dollar's weakness against other currencies overseas and a higher opening in the domestic equity market supported the rupee, forex dealers said.
The domestic currency has dropped by 62 paise or 0.93 per cent in four trading days.
The rupee had lost 26 paise to close at 60.16 against the dollar yesterday on fresh dollar demand from banks and importers in view of the US currency gaining overseas and weakness in local equities.
Weakness in dollar in the overseas market also boosted the rupee value
The rupee is expected to become more jittery and choppy in the near-term
Increased demand for the American unit from importers and banks, affecting the value of the rupee
This is the highest closing level since May 11, 2016 when the rupee had finished at 66.56
The rupee has dropped by 60 paise or 0.89 per cent in the last three trading days.
The trading range for the Spot USD/INR pair is expected to be within 66.20 to 67.00.
Significant investors in government bonds FIIs have been net sellers since May 22.
The US dollar's weakness against some currencies overseas capped the losses.
Persistent fall in crude oil prices affected the market sentiment
BofA-ML revised its end-2015 rupee-dollar forecast to 60 from 64 earlier.
The rupee showed range-bound movement on Wednesday as investors preferred to stay cautious in the unsure market.
Inflows from Europe, falling crude oil to come to the rescue if rupee cracks against the dollar.
In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
The rupee has fallen 0.8 per cent so far this year, hitting a one-month low on Friday, hurt by a stronger dollar globally as well as caution ahead of key economic data this month.
Rupee is under pressure against the dollar say currency watchers.
Weakness of dollar in the global markets and foreign capital outflows also affected the rupee sentiment.
The Indian rupee ended slightly lower at 64.01/02 per dollar compared with Tuesday's close of 63.98/99 per dollar due to month-end dollar demand by importers.
The rupee has depreciated 2.35 per cent in the past three months and one per cent in the past month, despite strong capital flows and falling oil prices.
Some experts, however, see a silver lining in the fall and said the volatility has come down sharply and that bodes well for the Indian currency
Bucking a strong trend in share market, the Indian rupee on Monday gave up all its initial gains and slipped 18 paise to close at 61.94 against the Greenback on rising dollar demand from importers.
Increased month-end demand for the US currency from importers put pressure on the rupee
The immediate concern for the rupee is the sharp spike in oil prices
Benchmark share indices opened lower on Monday, amid weak global cues, as investors turned cautious ahead of the US Federal Reserve stance on interest rate.
Extending its losing streak for the fourth straight day, the rupee weakened by five paise to 61.01 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
The Rupee is seen strengthening against the dollar.
The dollar strengthened against major world currencies.
Forex dealers said besides dollar's gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
The rupee depreciated further by 7 paise to 65.12.
There's sustained demand for the American currency from importers and banks
Market experts on why the bulls will be on the rampage first thing on Monday after the scrapping of enhanced surcharge on FPIs and other measures to ease the systemic liquidity squeeze and boost demand. Prasanna D Zore reports.
The rupee largely shrugged off the high volatility in stocks and rebounded sharply towards the fag-end trade following bout of dollar selling by exporters
India Ratings on Mondy projected a 7.7 per cent growth this fiscal driven by consumption demand.
Hawkish guidance by the US Fed raises concerns it could tie the hands of RBI from trimming rates.
The rupee had gained 6 paise to close at 60.07 against the dollar in Thursday's trade on fresh selling of the American currency by banks and exporters in view of strong capital inflows.
Global currency market sentiment is likely to be driven by the US deficit and debt ceiling negotiations, with markets likely to turn more risk averse closer to October 17, the date by which the US Congress must approve raising the country's borrowing limit.
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