Mumbai: The rupee depreciated 10 paise to
64.38 against the US dollar in opening trade today due to
increased demand for the US currency from importers amid fresh
foreign funds outflow.
However, a weak dollar in global markets helped the rupee
limit its losses, dealers said.
The rupee opened weak at 64.38 at the interbank forex
market against its previous close of 64.28.
The rupee moved in range of 64.29 to 64.38 in early deals
before trading at 64.33, down by 5 paise, at 0930hrs.
Foreign investors pulled out a net Rs 1,022.50 crore from
stocks yesterday.
Yesterday, the rupee had lost 4 paise versus the dollar
to end at 64.28 after RBI sounded a more hawkish tone amid
upside risks on inflation.
Meanwhile, the benchmark Sensex rose 167.73 points, or
0.49 per cent, to 34,250.44 in early trade.
PTI
