Dollar demand pushed the rupee lower, along with slight sluggishness across equity markets around the globe.

The rupee had closed at 61.98 against the dollar on Wednesday, while the forex markets were closed on Thursday.

Today's fall in the rupee was despite strong sentiments in the Indian equity market, wherein the Sensex scaled past the 21,000 mark.

The rupee has been gaining ground in the last few months, as the fundamentals of the economy, particularly the current account deficit have improved dramatically. In fact, the rupee has shown remarkable resilience, even as several emerging market currencies have fallen in the last few months.

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