The Indian Rupee wiped off early gains against the dollar and fell over 0.40 per cent to an intraday low of 65.75 - its lowest level since March 15, 2017.
A fresh spell of month-end dollar demand from importers and banks and a higher greenback overseas weighed on the rupee
Overseas, the US dollar traded higher against a basket of currencies, which was underpinned by remarks from Federal Reserve Chair Janet Yellen on the need to continue with rate hikes. Higher interest rates tend to boost the greenback and push bond yields up, putting pressure on other currencies as well as dollar-denominated commodities such as gold.
The euro was seen licking its wounds amid political uncertainty after the German election.
At 3:00 pm Wednesday Sep 27,2017, the rupee traded 0.38 per cent lower at 65.69 against the dollar.
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