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At the forex market, the rupee opened weak at 71.22 and slipped further to quote 17 paise down at 71.33 against the US dollar.
A strong dollar in overseas markets and a lower opening of the domestic equity market weighed on the rupee, a currency dealer said.
The rupee continued its upward trend for the sixth straight day despite good selling of the greenback by banks.
Though the greenback saw some good selling, the Indian currency strengthened with easing crude oil prices.
Forex traders said positive opening in domestic equities, fresh foreign fund inflows and easing crude prices, however, capped the losses for the domestic unit.
Forex traders said strengthening of the US dollar against some currencies overseas weighed on the local unit.
Prashanth Pandarathil bought the ticket online for the Big Ticket draw in Abu Dhabi, the Gulf News reported.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.06 per cent to 95.52, ahead of US labour market report.
Experts feel that the rupee is headed for the worst performance among major Asian currencies amid the upcoming interim budget.
Focus was also on US-China trade talks as the forex market sentiment got revived towards the fag-end trade due to increased selling of the US currency.
Despite increase in demand of the US currency, the Indian currency registered a marginal gain of 2 paise on a weekly basis.
Gains in domestic equities bolstered forex market sentiments as stronger Asian currencies against the greenback proved positive for the Indian unit.
On Tuesday, the rupee had skidded by 16 paise -- its third straight session of loss -- to close at 71.44 against the US dollar.
At the Interbank forex market, the rupee opened higher at 71. 19 and advanced further to quote 29 paise higher at 71. 15 against the dollar.
In its straight third session of loss, the rupee dropped by 16 paise amid heavy selling in domestic equities.