Mumbai: The rupee on Thursday depreciated by 10
paise to 46.63 a dollar in opening trade on fears that capital
inflows would be impacted adversely after the Reserve Bank
tightened the guidelines for external commercial borrowings.
At the Interbank Foreign Exchange (Forex) market, the
domestic unit traded 10 paise down at 46.63 a dollar. It had
closed 14 paise higher at 46.53/54 against the dollar in
yesterday's volatile trading session.
The Reserve Bank, yesterday, tightened the guidelines for
external commercial borrowings by withdrawing relaxations
provided to companies to raise money from overseas debt
markets, raising fears that capital inflows would be adversely
impacted.
However, dollar's weakness overseas kept rupee's losses
limited.
PTI
First Published: Thursday, December 10, 2009, 10:21