The Indian rupee depreciated by 33 paise to 50.91 against the US currency in early trade today on fears of weak opening on the domestic bourses, which could trigger capital outflows.
The Indian rupee depreciated by 33 paise to 50.91 against the US currency in early trade today on fears of weak opening on the domestic bourses, which could trigger capital outflows.
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Dollar's strength against other Asian currencies also put pressure on the Indian rupee. At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted lower at 50.91 a dollar, down 33 paise over the previous close of 50.58/59 on Thursday.
Forex dealers said increased demand for the dollar from importers and hopes of subdued opening on the domestic stock markets in line with the weak Asian markets, mainly weighed down the rupee. The rupee ended 15 paise higher at 50.58/59 against the USD on Thursday.
The Forex markets remained closed on Friday, March 27, for observing Gudi Padwa.
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