Rupee weakens 7 paisa against US dollar to 66.5830, Sensex falls 160.09 points

Mumbai: The Reserve Bank of India today fixed the reference rate of the rupee at 66.5830 against the US dollar and 75.9313 for the euro.

These rates were 66.5105 and 76.3807 respectively yesterday.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were quoted at 96.3456 and 62.13 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee figure will be based on this rate, the statement added.

The rupee depreciated by 7 paise to 66.62 against the US dollar in early trade today due to sustained foreign fund outflows amid appreciation in the American currency overseas.

Dealers also attributed the fall to fresh demand for the US currency from importers and banks and a lower opening of the domestic equity market.

Yesterday, the rupee ended steady at 66.55 on mild selling of the US dollars by banks and exporters in view of recovery in the domestic equity market.

Meanwhile, the benchmark BSE Sensex fell 160.09 points, or 0.63 per cent, to 25,102.12 in early trade.