Mumbai, Sept. 24 -- The rupee weakened by 26 paise to settle at 95.99 against the US dollar on Thursday, dragged by a surge in crude oil prices and a strong greenback amid geopolitical uncertainties.
According to forex traders, the domestic currency was also weighed down by heavy selling in domestic equity markets as investors moved toward risk aversion, adding strength to the dollar, even as rising inflation concerns pushed US bond yields higher.
At the interbank foreign exchange market, the rupee opened at 95.84 and touched the intraday low of 95.99 against the American currency.
The unit finally ended the session at 95.99 against the greenback, down by 26 paise from its previous closing level.
The rupee closed 11 paise lower at 95.73 against the US dollar on Wednesday, a day after appreciating by 16 paise.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, traded at 100.99, up 0.18 per cent.
FIIs purchased equities worth Rs 1,617.45 crore on a net basis on Wednesday, according to exchange data.
Published by HT Digital Content Services with permission from Millennium Post.