Rupee weakens 10 paise against dollar

Rupee depreciated by 10 paise to 66.36 against the US currency in early trade today at the Interbank Foreign Exchange due to increased demand for the dollar from importers. Dealers attributed the rupee’s fall to increased demand for the US currency but a higher opening of the domestic equity market and the dollar’s weakness against some currencies overseas, capped the losses.

The rupee had gained 11 paise to close at a fresh three-month high of 66.26 on Thursday on persistent selling of US dollars by banks and exporters in view of sustained foreign capital inflows. Forex market remained closed on Friday for annual account closing.

Meanwhile, the benchmark BSE Sensex advanced by 132.46 points or 0.52 per cent to 25,402.10 in early trade.