Rupee slips to 46.93 against dollar

Continuing with its losing streak,the rupee fell by 5 paise in opening trade to 46.93 against the US dollar largely on fears of capital outflows by foreign funds.

At the Interbank Foreign Exchange (Forex) market,the domestic unit traded 5 paise down at 46.93 a dollar. The rupee had ended 21 paise down at 46.88/89 against the dollar in the Thursday’s session after the Bombay Stock Exchange benchmark Sensex ended 18.52 points,or 0.11 per cent down.

Forex dealers said apprehensions that more foreign capital would flow out following the weak cues from the Asian markets,which were down up to 0.94 points in the morning trade,and dollars buying by importers,mainly weighed on the Indian rupee.