Mumbai: In line with equity market, the rupee continued to fall against the American currency for the 4th consecutive week, slipping by another 32 paise to settle at 66.46 on persistent demand for the green currency from banks and importers coupled with sustained foreign capital outflows.
Foreign portfolio investors (FPIs) continued their selling pressure as they sold shares net USD 467.88 million during the first four days of the week as per the SEBI's record.
The rupee opened lower at 66.25 per dollar as against the last weekend's level of 66.14 per dollar at the Interbank Foreign Exchange (Forex) market and dropped further to 66.52 per dollar before ending the week at 66.46 per dollar, showing a loss of 32 paise or 0.48 percent.
The rupee has tumbled by 265 paise or 4.15 percent in the four weeks.
The domestic currrency hovered in a range of 66.10 per dollar and 66.52 per dollar during the week.
The Indian benchmark Sensex tumbled sharply by 1,190.48 points or 4.51 percent.
"Investors are still keeping their eyes on the stock market," a forex dealer said.
In the global market, the dollar finished the week on uneven footing, posting its second straight weekly gain against the euro, while weakening against the yen after Friday's closely watched jobs report delivered a hazy picture of the US labour market.
In the forward market, the premium for dollar fell sharply on receivings from the exporters.
Forward dollar premium payable in February dropped to 207-209 paise from the last weekend's level of 217-219 paise and far-forward contract maturing in August 2016 also finished lower at 422-424 paise from 437.5-439.5 paise.
RBI fixed the reference rate for the dollar at 66.4003 and the Euro at 73.8903 respectively from the last weekend's level of 66.0808 and 74.3673.
The rupee firmed up against the pound to close the week at 101.17 from 101.74 last weekend and also moved up against the euro to 74.03 from 74.49.
However, the domestic currency fell against the Japanese currency to finish at 55.77 per 100 yen from the last weekend's level of 54.70.
