Snapping its two-day gaining streak, the rupee closed down by 8 paise at 61.75 per dollar on fresh demand for the US currency from banks amid fall in stock markets. A strong dollar in overseas markets also affected the rupee value against the dollar, a forex dealer said. The rupee opened steady at 61.67 per dollar at the Interbank Foreign Exchange Market and firmed up to 61.56 per dollar on initial selling of dollars following overnight weakness of dollar in the US market.
However, the domestic currency dropped to 61.8550 per dollar on fresh demand from banks and importers before ending at 61.75 per dollar, showing a loss of 8 paise, or 0.13 per cent. It had gained 19 paise or 0.31 per cent in the last two days. In the Asian market, the dollar was higher against the yen and the euro in afternoon trade as diminished worries over the Greek debt situation and a recovery in oil prices strengthened risk sentiment.