Rupee opens 8 paise lower against U.S. dollar

The Indian rupee depreciated by 8 paise to Rs. 44.41 against the U.S. dollar in early trade on the Interbank Foreign Exchange today, weighed down by dollar gains against other currencies overseas and a weak trend in the equity market.

Forex dealers said the strengthening of the dollar against major currencies overseas and a weak start in the stock market mainly put pressure on the rupee.

The rupee fell by 11 paise to close at Rs. 44.33/34 against the U.S. currency in yesterday’s trade due to dollar demand from banks and corporates.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 97.39 points, or 0.51 per cent, to 18,900.63 in opening trade today.