The Indian rupee depreciated by 7 paise to 59.27 against the US dollar in early trade today at the Interbank Foreign Exchange market due to increased demand for the American currency from importers.
Besides, dollar’s gains against other currencies overseas also weigh on the Indian rupee but a higher opening in the domestic equity market limited the fall, traders said.
The Indian rupee had lost 3 paise to close at 59.20 against the dollar on late demand for the American currency from importers.
Meanwhile, the benchmark BSE Sensex rose by 130.90 points, 0.51 or per cent, to trade at an all-time high of 25,711.11.
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