The Indian rupee depreciated by 28 paise to a nine-month low of Rs. 46.02 against the U.S. dollar in early trade on the Interbank Foreign Exchange today, largely on capital outflow concerns.
Dealers said weakness in the equity market and capital outflow concerns continued to exert pressure on the Indian rupee, which dipped to its lowest level since November 30 last year in opening trade today.
The rupee closed down by 33 paise at a nearly six-and-half month low of Rs. 45.74/75 against the U.S. dollar in Thursday’s trade due to sustained dollar demand amid a steep fall in equity markets.
The forex and money markets remained closed on Friday in observance of ‘Pateti’
Meanwhile, the BSE benchmark Sensex fell by 73.15 points, or 0.46 per cent, to 16,068.52 in opening trade today.
