Weakening for the third straight session, the rupee lost 30 paise to close at over two-month low of 86.73 against the US dollar on Thursday, weighed down by a strong American currency and rising crude oil prices.
Forex traders said the rupee depreciated for the third consecutive day, logging a loss of 69 paise, primarily due to prevailing risk-averse market sentiment and dollar demand from importers, fuelled by ongoing geopolitical uncertainties.
Moreover, muted domestic equity markets and rising geopolitical tensions in the Middle East also pressurised the rupee, they added.
At the interbank foreign exchange, the domestic unit witnessed intense volatility.
It opened at 86.54 against the greenback and touched an intra-day high of 86.49 and a low of 86.89 against the greenback during the day.
At the end of Thursday's trading session, the local unit was at 86.73, down 30 paise over its previous closing price.
The Indian currency had earlier hit this level on April 9 when it closed at 86.68 against the greenback.
On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the US dollar. -- PTI
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