Mumbai, Dec 4: Continuing its losing streak for the second straight session against the American currency, the rupee on Thursday dropped by another 6 paise to 66.65 on sustained demand for US dollars by banks and importers on the back of higher greenback overseas.
The rupee had resumed lower at 66.67 as against yesterday’s closing level of 66.59 at the Interbank Foreign Exchange market and dropped further to 66.76 per dollar before settling at 66.65, showing a loss of 6 paise or 0.09 per cent.
The domestic currency has lost 16 paise or 0.24 per cent in two days moving in a range of 66.63 and 66.76 per dollar in the morning trade.
Globally, the euro hovered near a 7-1/2-month low against the dollar as investors braced for the European Central Bank to roll out more stimulus, giving an extra boost to the US currency after it scaled new heights on the prospect of a US Federal Reserve rate hike.
The dollar index currently trading up by 0.31 per as against a basket of six currencies in the late afternoon trade.
In forward market, premium for dollar fell on fresh receiving from exporters.
The benchmark six-month premium payable in May dropped to 203-205 paise from to 207-209 paise yesterday while far forward November 2016 contract also moved down to 411-413 paise from 415.5-417.5 paise.
The RBI fixed the reference rate for the dollar at 66.7450 and for the euro at 70.6696. The rupee firmed up further against the pound sterling to end at 99.50 from 100.15 on Thursday and recovered against the euro to settle at 70.38 as against 70.57.
The domestic currency also recovered against the Japanese currency to close at 53.98 from 54.09 per 100 yen on Thursday.
