Rupee down by 8 paise to trade at 66.95 against US dollar

The rupee depreciated by 8 paise to trade at 66.95 against the US dollar in early trade, due to sustained demand for the American unit from importers and banks amid a lower opening in the domestic equity market. This was the fifth consecutive day of fall.

Forex dealers said apart from increased demand for the US currency from importers, foreign fund outflows and rising global crude oil prices amid dollar’s gains against other currencies overseas put pressure on the rupee.

The domestic unit had lost 7 paise to close at 66.87 in yesterday’s trade. Meanwhile, benchmark BSE Sensex tumbled by 210.46 points or 0.81 per cent to 25,563.15 in early trade.