Rupee depreciates to 49.12 against dollar

The Indian rupee on Monday depreciated by 11 paise against the US dollar in early trade.

The Indian rupee on Monday depreciated by 11 paise against the US dollar in early trade on heavy dollar buying by banks and pick-up in demand from importers amid and increased outflows from foreign funds.

At the Interbank Foreign Exchange (forex) market, the domestic unit, which rose by 29 paise on Friday, fell by 11 paise at 49.12 against the greenback.

Forex dealers said the domestic currency continued to remain under pressure in line with local stocks, which were down by 1.7 per cent.

Meanwhile, the Indian benchmark BSE Sensex fell by over 159.83 points at 9,225.59 points in early trade.

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