Markets

Rupee depreciates 8 paise in opening trade

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Representational image.  

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Forex dealers said month-end demand from banks and importers weighed on the rupee.

The rupee weakened by 8 paise to 66.83 against the dollar in opening trade today at the Interbank Foreign Exchange market largely on month-end demand for the US currency from importers amid sustained foreign capital outflows.

Forex dealers said month-end demand from banks and importers weighed on the rupee but domestic equity markets opening with gains and the US dollar trading weak against some currencies in global markets, limited the fall.

On Thursday the rupee had closed 15 paise higher at 66.75 against the US dollar on dollar selling by exporters.

Meanwhile, the benchmark BSE Sensex was trading higher by 179.60 points, or 0.51 per cent, at 34,893.20 in early deals.

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Printable version | Jan 21, 2020 2:47:33 PM | https://www.thehindu.com/business/markets/rupee-depreciates-8-paise-in-opening-trade/article23692205.ece

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