The Indian rupee on Thursday dropped another 9 paise to mark its lowest closing level in over five weeks at 74.23 against the US currency, amid risk averse sentiments and foreign fund outflows. At the interbank foreign exchange market, the rupee opened on a negative note at 74.28 per dollar as against its previous close of 74.14.
It hovered in the range of 74.18 to 74.36 per dollar during the day before ending at 74.23 against the American currency - also registering its fifth straight session loss.
The domestic unit has lost 59 paise in the last five trading sessions. On a monthly basis, the rupee fell by 123 paise in September against the greenback.