The rupee depreciated by 29 paise to 45.35 per U.S. dollar in early trade on the Interbank Foreign Exchange today, weighed down by dollar gains against other Asian currencies and a weak start in the stock market.
Forex traders said that dollar gains against most other Asian currencies and sharp losses in opening trade in the stock market mainly put pressure on the rupee.
The rupee rose by 18 paise to close at 45.06/07 against the US currency in yesterday’s session, supported by the recovery in stocks amid dollar-selling by exporters.
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Meanwhile, the Bombay Stock Exchange benchmark Sensex fell sharply by 486.88 points, or 2.64 per cent, to 17,952.60 in opening trade today.
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