The rupee depreciated by 17 paise to 66.79 against the US dollar in early trade on Friday due to increased demand for the American currency from importers amid a lower opening of the domestic equity market.
Besides, growth in industrial production plunging to 0.1 per cent in March and retail inflation soared to 5.39 per cent in April, also put pressure on the rupee, forex dealers said.
- 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
- Sensex slips 137 points in volatile trade, rupee rises 21 paise against US dollar
- Rupee strengthens 14 paise against US dollar
- Rupee drops 17 paise against US dollar
However, the US dollar’s weakness against some currencies overseas capped the losses.
On Thursday, the domestic unit had lost 6 paise to close at 66.62 due to higher greenback in the overseas market.
Meanwhile, the benchmark BSE Sensex fell 238.12 points, or 0.92 per cent, to trade at 25,552.10 in early trade on Friday.