Rupee depreciates by 6 paise against dollar in early trade

Staging a strong recovery, the rupee on Friday had gained 7 paise to end at 67.76 against the American currency, a day after succumbing to pressure created by US Federal Reserve's rate hike. Image Source: Reuters

Rupee depreciated by 6 paise to 67.82 against the US dollar in early trade on Monday at the Interbank Foreign Exchange due to increased demand for the American unit from importers amid foreign fund outflows.

Dealers attributed the fall in rupee to increased demand for the US currency and lower opening of the domestic equity market but the dollar's weakness against some currencies overseas because of the mounting tension between the US and China capped the losses.

ALSO READ: Rupee to breach 70-mark by December this year: Report

Staging a strong recovery, the rupee on Friday had gained 7 paise to end at 67.76 against the American currency, a day after succumbing to pressure created by US Federal Reserve's rate hike.

Meanwhile, the benchmark BSE Sensex fell by 80.82 points or 0.31% to 26,408.74 in early trade.

ALSO READ: Sensex, Nifty open marginally in red in early trade

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