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Rupee depreciates to 50.57 against dollar

Rupee on Tuesday depreciated by 27 paise at 50.57 against the US currency in early trade.

Written by Agencies | Mumbai | Published: April 21, 2009 10:34:26 am

The Indian rupee on Tuesday depreciated by 27 paise at 50.57 against the US currency in early trade on heavy capital outflows by funds on expectations of weak opening of the domestic stock markets in line with other Asian equity markets.

Dealers said increased dollar demand from importers also led to the weakening of rupee.

At the Interbank Foreign Exchange (Forex) market,the local currency,which on Monday tumbled by 45 paise to a nearly three-week low of 50.30/31 a dollar,plunged by 27 paise at 50.57 against the greenback.

On Monday,the BSE benchmark Sensex ended 44 points lower after touching the intra-day high of 11,209.66.

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