Firmness prevailed on the money market on Friday as the rupee maintained rising trend against the dollar in process of trading activity, dealers said.
In the final US trade, the euro fell below $1.10 on Friday to its weakest since May 2017 as a multi-day downward shift in the single currency intensified in afternoon trade.
Traders had varied explanations for the drop, including that month-end rebalancing of portfolios heightened an existing bias. The longer-term trend, which has seen the euro fall 0.90% in August, has been driven by an economic slowdown in Europe among other factors.
"We had a quick 50-odd point drop, which seems to be month-end related. Clearly the euro has been quite soft for some time. We touched below $1.10 earlier in August and we've struggled really to rebound from that point.
The underlying softness that we've seen persist in the past month seems very much intact," said Shaun Osborne, chief foreign exchange strategist at Scotia Capital.

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