Mumbai: Extending losses for the second consecutive day against the American currency, the Indian rupee dropped by another 14 paise to close at 67.02 per dollar on persistent dollar demand from banks and importers coupled with higher dollar in the overseas market.
However, good foreign captial inflows into equity market restricted the rupee's losses against the dollar, a forex dealer said.
The rupee resumed lower at 66.90 per dollar as against the last Friday's closing level of 66.88 at the Interbank Foreign Exchange market.
Later, it declined further to 67.0350 before ending at 67.02 per dollar, showing a loss of 14 paise or 0.21 percent.
The rupee has dropped by 17 paise or 0.25 percent in two days.
The domestic unit hovered in a range of 67.0350 and 66.90 in late morning deals.
The dollar index was trading down by 0.22 percent against a basket of six currencies in the late afternoon trade.
Overseas, the British pound stood out as one of the strongest major currencies today, bucking an otherwise broadly move higher for the dollar, which got a lift after a meeting between US President Donald Trump and the Japanese leader went off without a hitch.
Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 504.51 crore last Friday, as per provisional data released by the stock exchanges.
The Indian benchmark sensex moved up by 17.37 points or 0.06 percent to close at 28,351.62 on Mondday.
In forward market today, premium for dollar declined onfresh receivings from exporters.
The benchmark six-month premium payable in July dropped to 151-153 paise from 153-155 paise Last Friday and far forward January 2017 contract held stable to 301-303 paise.
The RBI fixed the reference rate for the dollar at 66.9663 and for the euro at 71.1718.
In cross-currency trades, the rupee fell against the pound sterling to close at 83.96/98 from 83.53/55 and moved down against the Euro to settle at 71.35/37 from 71.16/18.
While, it rose against the Japanese Yen to 58.92/94 per yen from 58.95/97 previously.
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