The rupee weakened further by 6 paise to close at 74.94 against the US dollar on Thursday as a persistent rise in Covid-19 cases and enhanced restrictions imposed by states weighed on investor sentiment.
Increased concerns over forex outflows weighed on the local unit, analysts said. At the interbank forex market, the local unit opened sharply lower at 75.25 against the greenback and traded in the range of 74.82 to 75.26 during the day. On Tuesday, the rupee had settled down at 74.88 against the American currency.