Mumbai: Extending losses for the third day, the Rupee dropped by another 7 paise to 66.99 against the US dollar in early trade today at Interbank Foreign Exchange market as the American currency strengthened overseas.
Forex dealers said fresh demand for the US currency from importers and a lower opening in the domestic equity market put pressure on the rupee.
The rupee had depreciating by 24 paise to end at 66.92 against the US dollar on Monday. The forex market remained closed yesterday on account of “Id-ul-Zuha”.
Meanwhile, the benchmark BSE Sensex fell further by 30.22 points or 0.10 per cent to 28,323.32 in opening trade today.