"The rupee depreciated for the fourth straight session

and has already breached its one-week low against the dollar. Negative stock markets and a falling Euro contributed to the weakness in rupee. Technically, the pair has sustained well above 53.00 levels," said Abhishek Goenka, Founder and CEO, India Forex Advisors. The premium for the forward dollar recouped on fresh payments from banks and corporates. The benchmark six-month forward dollar premium payable in July edged up to 181-1/2-183 paise from previous close of 179-1/2-180-1/2 paise. Far-forward contracts maturing in January also settled higher at 344-1/2-346 paise from 340-342 paise. The RBI fixed the reference rate for the US dollar at 53.6793 and for euro at 71.8690. The rupee remained weak against the pound sterling to end at 84.50 from last weekend's close of 84.31 while it fell back against the euro to 72.05 from 71.75. Rupee, however, recovered against the Japanese yen to 57.72 per 100 yen from previous close of 57.93.