The rupee depreciated by 8 paise to trade at 66.95 against the US dollar in early trade, due to sustained demand for the American unit from importers and banks amid a lower opening in the domestic equity market.
This was the fifth consecutive day of fall.
- Rupee hits new all-time low of 70.32; Sensex, Nifty fall on weak macro cues
- Sensex rallies over 300 points; Rupee rises 6 paise against US dollar
- Rupee hits all-time low of 69.12 against US dollar
- Sensex recovers 116 points on mixed global cues; Rupee sheds 8 paise
- Sensex falls in early trade despite rupee gaining ground against US dollar
- Rupee slips 13 paise on dollar demand, inflation concerns
Forex dealers said apart from increased demand for the US currency from importers, foreign fund outflows and rising global crude oil prices amid dollar’s gains against other currencies overseas put pressure on the rupee.
The domestic unit had lost 7 paise to close at 66.87 in Tuesday’s trade.
Meanwhile, benchmark BSE Sensex tumbled by 210.46 points or 0.81 per cent to 25,563.15 in early trade.