The Indian rupee depreciated by 8 paise to Rs 44.59 against the US dollar in early trade on the Interbank Foreign Exchange today, in tandem with weakness in other Asian currencies overseas amid a lower opening in the stock market.
The rupee fell by 18 paise to close at Rs 44.51/52 against the dollar in yesterday’s trade due to continued demand from importers and some banks for the American currency and weakness in equities.
Forex dealers said besides weakness in other Asian currencies against the dollar overseas, the lower opening in the stock market also put pressure on the rupee sentiment.
Meanwhile, the Bombay Stock Exchange benchmark Sensex declined by 155.69 points, or 0.84 per cent, to 18,379.00 this morning.
Keywords: rupee value