Rupee weakest since March at 67 versus dollar, drops 23 paise
The benchmark BSE Sensex also saw a slip of 132.64 points or 0.51% at 25,571.97 in early trade.
The rupee plummeted 23 paise against the US dollar to 67.20 in early trade on Thursday, its weakest level since March, due to the appreciation of the American currency overseas amid foreign fund outflows.
On Wednesday, the rupee had lost 10 paise to close at 66.97 per dollar.
The US dollar jumped in the overseas market on Wednesday after the minutes of the Federal Reserve's end-April meeting showed the central bank far more bullish about a possible June rate hike than the markets had understood.
Forex dealers said sustained demand for the greenback from importers and banks as well as the lower opening of the domestic equity markets also put pressure on the rupee.
Meanwhile, the benchmark BSE Sensex was down 132.64 points or 0.51% at 25,571.97 in early trade.