Mumbai, Feb 18: The
rupee depreciated by 10 paise to 62.26 against the dollar in early trade
today at the Interbank Foreign Exchange due to appreciation of the US
currency overseas. Increased demand for the dollar from importers also
put pressure on the rupee. Forex dealers attributed the rupee’s fall to
the dollar’s gains against other currencies overseas but a higher
opening of the domestic equity market, capped the losses.
The rupee had gained three paise to
close at 62.16 against the dollar on Monday following continued selling
of the US currency by banks and exporters. Forex market remained closed
yesterday on account of ‘Mahashivratri’.
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