Mumbai: The Indian rupee tumbled by 44 paise to more than 2-year low at 67.29 against the American currency on fresh dollar demand from banks and importers amidst volatile equities.
The Indian unit resumed sharply lower at 66.98 per dollar against yesterday's closing level of 66.85 at the Interbank Foreign Exchange (Forex) market and dropped further to 2-year low to 67.30 before concluding at 67.29, showing a loss of 44 paise or 0.66 per cent.
The rupee had last settled at 67.63 per dollar on September 3, 2013 and intra-day trade at 68.62 on September 4, 2013. It moved in a wide range of 67.30 and 66.98 during the day.
The dollar index was down 0.17 per cent against a basket of six currencies in the late afternoon trade.
In Asian market, the yen was slightly higher against the dollar and other currencies, as investors bought the perceived safety of the Japanese currency following renewed volatility in stocks.
The US dollar edged lower against the euro and yen yesterday, as a rally in oil prices faded and the Federal Reserve's Beige Book painted mixed picture of the US economy.
Brent oil stayed below $30 a barrel as prices remained weak in Asia trade after the US crude and fuel inventories rose, adding further anxiety over a global supply glut. The benchmark BSE Sensex dropped by 81.14 points or 0.33 per cent to close at 24,772.97.
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