The rupee today closed down by a modest 2 paise at 68.67 against the US currency to end its three-session gaining streak due to month-end dollar demand.
Traders turned cautious in the run up to the outcome of RBI monetary policy committee meeting that began today.
Sustained weakness in Asian currencies, particularly the Chinese yuan, as investors awaited decisions of key central bankers also weighed on appetite for the local currency.
The Bank of Japan will announce the outcome of its monetary policy meeting tomorrow, followed by the US Federal Reserve on Wednesday.
The Indian unit resumed lower at 68.70 against weekend close of 68.65 at the Interbank Foreign Exchange (forex) market.
It traded with negative bias throughout the session and hit an intra-day low of 68.80 on heavy month-end dollar demand from oil refiners
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