India (BBN)-Indian rupee depreciated 6 paise to 67.96 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange market due to increased demand for the American unit from importers and banks amid a lower opening in the domestic equity market.
Moreover, sustained capital outflows also weighed on the domestic unit but dollar’s weakness against some currencies overseas limited the rupee’s fall, forex dealers said, reports the PTI.
On Tuesday, the rupee snapped its two-day losing streak against the US currency by recovering 4 paise to 67.90 on fresh selling of dollar by banks and exporters despite sustained fall in equities.
Meanwhile, the benchmark BSE Sensex fell by 159.77 points or 0.66 per cent to 23,861.21 in early trade.
BBN/SK/AD