Indian rupee at two-week low

The Indian rupee fell to its weakest level in two weeks on Wednesday, despite upbeat sentiment in local stocks and suspected dollar sales by the central bank to shore up the domestic currency. The rupee ended at 50.66/67 to the dollar, close to its low of 50.68, a level last seen on March 7, and weaker than Tuesday's close of 50.39/40. The one-month offshore non-deliverable forward contracts were at 51.13.
In the currency futures market, the most-traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange all ended around 50.72, on a total volume of $4.84 billion.