Rupee depreciates by 30 paise at 48.25 in opening trade
Mumbai: The Indian rupee on Friday fell by 30 paise against the dollar in opening trade on expectation of fresh capital outflows as markets may open with losses in line with other Asian bourses.
Dollar's gain against other Asian currencies and demand for the US currency from importers also put pressure on the Indian rupee.
At the Interbank Foreign Exchange (Forex) market, the
domestic unit declined by 30 paise to 48.25 a dollar over its
previous close. The rupee appreciated by 3 paisa to close at
47.95/96 in the previous session.
Forex dealers said rupee turned weak on anticipation of
increased capital outflows as the stock markets may open on a
weak note in line with other Asian bourses, which are down up
to 2.6 percent in morning trade.
They said dollar's firmness against other Asian currencies
and increased demand from importers for the US currency, also
weighed on the rupee.