The rupee was trading down by 4 paise at 64.83 against the US currency in afternoon trade on bouts of dollar demand from importers and banks.
The rupee opened sharply lower at 64.90 per dollar against yesterday’s close of 64.79 at the inter-bank foreign exchange here.
The domestic unit witnessed choppiness and hovered between a low 64.94 and a high of 64.73 during morning deals, it was trading at 64.83 at 1200 hrs.
“Sustained FII outflows continue to hover the rupee sentiment,” a dealer said.
Meanwhile, the US dollar steadied against a basket of currencies in early Asian trade, having pulled up from three- year lows set last week as traders shaved off some of the bearish bets against the US currency.moneycontrol