Mumbai: The rupee depreciated 4 paise to
64.83 against the US dollar in opening trade today at the
forex market due to increased demand for the US currency from importers amid sustained foreign funds outflow.
However, a weak dollar in global markets helped the rupee
limit its losses, dealers said.
Asian currencies were
trading lower as investors look fro cues from Jerome Powell s first
public comments at the House Financial Services Committee today to
discuss the US Fed s Semi-Annual Monetary Policy Report and the state of
the economy.
Yesterday, the rupee had lost 6 paise to
end at 64.79 against the US currency due to fag-end dollar demand from
importers and corporates.
Meanwhile, the benchmark Sensex rose 132.64 points, or
0.38 per cent, to 34,578.39 in early trade.
Foreign investors pulled out a net Rs 1,119.51 crore from
stocks yesterday.
PTI
