HN: Rupee down 22 paise against USD in early trade
The Indian rupee depreciated 22 paise against the US dollar in early trade today, snapping its six-session upward journey, on expectations of fresh capital outflow by foreign funds as domestic bourses may open in the negative zone, in line with other Asian markets.
At the Interbank Foreign Exchange (Forex) market, the local unit, which had gained nearly 4.9 per cent during the last week, turned weak and fell 22 paise to 47.32 a dollar.
On Friday, the domestic currency had ended 27 paise higher at 47.10/12 against the greenback.
Forex dealers said the benchmark Sensex is likely to open on a weak note in line with other Asian markets, which are down up to 1.5 per cent, leading to capital outflow by foreign funds.
