Weakness in the domestic stock market weighed on the rupee at the Interbank Foreign Exchange market.
Dollar's gains against other currencies overseas put squeeze on rupee.
Mumbai: The rupee declined by 42 paise to hit a fresh 1-month low of 67.54 per dollar in early trade on Friday due to appreciation of the American currency overseas and outflows of foreign fund.
Besides, weakness in the domestic stock market weighed on the rupee at the Interbank Foreign Exchange market. Forex dealers said increased demand for the US currency from importers and its gains against other currencies overseas put pressure on the rupee.
On Thursday, the domestic unit had ended lower by 20 paise to 67.12 as revival in global crude prices renewed India's concerns on the fiscal front.
Meanwhile, the benchmark BSE Sensex fell by 137.10 points, or 0.38 per cent, to 35,325.98 in opening trade on Friday.
( Source : PTI )
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