Rupee Depreciates 10 Paise Against US Dollar

Mumbai: The rupee fell below the 71 mark after depreciating by 10 paise against the US Dollar in opening trade on Tuesday. The fall in the value of the rupee comes amid strengthening greenback, sustained foreign fund outflows and surging crude oil prices.

At the Interbank Foreign Exchange on Tuesday, the rupee opened weak at Rs 70.79 then fell further to 71.02 against the American currency, down by 10 paise over its previous closing price.

The rupee on Monday plunged 43 paise to close at nearly one-month low of 70.92 against the US dollar. Forex traders said the strength of the US dollar against other currencies weighed on the domestic unit.

On the other hand, the benchmark BSE Sensex was trading with gains of 296.15 points, or 0.83 percent to quote at 35,149.71 while the NSE Nifty was trading at 10,785.25, up 47.65 points, or 0.46 per cent.

Meanwhile, Brent crude, the global benchmark, was trading lower at 59.68 per barrel higher by 1.17 percent.

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