Mumbai, October 04: The rupee today weakened by 11 paise to settle at 44.58/59 against the US currency following dollar demand from importers.
The dollar strengthened against major world currencies in overseas markets, which also weighed on the rupee sentiments, dealers said.
At the Interbank Foreign Exchange (Forex) market, the domestic unit opened strong at 44.35/36 a dollar against its previous close of 44.47/48 and touched the day’s high of 44.25 in line with rally in equities.
The Indian benchmark Sensex was up by over 260 points in early trade but reacted downwards to settle up by a mere 31 points or 0.15 per cent on late profit-booking.
In line with equities, the rupee also dropped to the day’s low of 44.6450 before concluding at 44.58/59.
In early trade the rupee was supported by firm equities amid consistent capital inflows.
–Agencies