Rupee depreciates 18 paise against dollar in early trade
Besides, persistent demand for the American currency from importers and banks and US dollars strength against other currencies overseas on renewed possibility of the US Federal Resrerve raising borrowing costs as early as June weighed, forex dealers said.
The rupee slid for the ninth day as it depreciated 18 paise more to trade at over two-and-half-month low of 67.67 against the dollar on Tuesday, hit by sustained foreign fund outflows amid a lower opening in the domestic stock market.
Besides, persistent demand for the American currency from importers and banks and US dollar's strength against other currencies overseas on renewed possibility of the US Federal Reserve raising borrowing costs as early as June weighed, forex dealers said.
The rupee had ended 5 paise lower at 67.49 on Monday on continuous demand for the greenback from banks and importers amid a fall in domestic equities.
Meanwhile, the benchmark Bombay Stock Exchange (BSE) Sensex fell 37.94 points, or 0.15%, to 25,192.42 in the early session.
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