The Indian rupee on Thursday depreciated by nine paise to 47.14 against the US dollar, largely on fears of capital outflows by foreign funds is expected to open weak in line with bearish trend in other Asian equity merkets.
The American currency’s gains against some other currencies also put pressure on the rupee.
At the Interbank Foreign Exchange (Forex) market, the domestic unit traded nine paise lower at 47.14 a dollar in early trade.
On Wednesday, the rupee ended 35 paise higher at 47.05/06 against the US currency after the benchmark Sensex shot up by 507.19 points.
Dealers said hopes of fresh capital outflows by foreign funds as equities may open lower, tracking other Asian bourses and the greenback’s firmness against other regional units mainly weighed on the rupee.
