The rupee today depreciated 39 paise against the greenback in opening trade on increased dollar demand from importers and concerns about capital outflows by foreign funds on expectation of sharp fall on the domestic stock markets after Asian equity markets tumbled.
The rupee today depreciated 39 paise against the greenback in opening trade on increased dollar demand from importers and concerns about capital outflows by foreign funds on expectation of sharp fall on the domestic stock markets after Asian equity markets tumbled.
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At the Interbank Foreign Exchange (Forex) market, the domestic currency traded lower at 49.23 against the US currency, a fall of 39 paise over the yesterday's close of 48.82/84 a dollar yesterday.
The rupee had gained 30 paise at 48.82/84 against USD in volatile trade yesterday after the BSE Sensex closed 299.13 points higher.
Forex dealers said heavy dollar demand from importers on expectations of fall in stock prices on the domestic bourses after most other regional exchanges fell over five per cent mainly put pressure on the Indian rupee.
Meanwhile, Hong Kong's Hang Seng index fell 5.50 per cent, while Japan's Nikkei was down 4.60 per cent in early trade toda
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