The rupee skidded 6 paise to finish at 69.23 per US dollar on Friday, largely owing to increasing demand for the greenback from importers.
Forex traders said strengthening of the dollar against key currencies overseas also kept the rupee under pressure, though persistent foreign fund inflows restricted the fall.
At the Interbank Foreign Exchange (forex) market, the domestic unit opened at 69.11. It moved in a range of 69.33 to 69.05 before finally ending at 69.23, down 6 paise over its previous close.
The rupee had plunged 76 paise Thursday to close at 69.17 after the RBI cut the key interest rate but kept its monetary policy stance ‘neutral’.
During the week, the rupee lost 9 paise. This is the second consecutive week of loss for the local currency.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, inched up 0.01 per cent to 97.31.
Brent crude futures, the global oil benchmark, was trading 0.37 per cent lower at $69.14 per barrel.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 797.90 crore Friday, as per provisional data.