(Image source from: The Hindu)

Continuing its sink for the third consecutive day, the rupee diminished by another 3 paise to trade at 68.97 against the United States dollar in beginning session on Wednesday due to augmented demand for the American currency from importers.

The dollar's gains against other currencies ahead of a meeting between U.S. President Donald Trump and European Commission President Jean-Claude Juncker likewise impacted the rupee sentiment, a currency dealer said.

They said a higher opening of the domestic equity market capped the rupee's losses.

On Tuesday, the rupee dropped by 8 paise to close at 68.94 against the U.S. currency due to uninterrupted dollar demand from importers even as local equities hit a record high.

Meanwhile, the benchmark Bombay Stock Exchange (BSE) Sensex rose by 102.97 points, or 0.27 percent, to quote an all-time high of 36,928.06 in opening trade.

By Sowmya Sangam