Rupee Depreciates 17 Paise To 69.59 Against US Dollar
Mumbai: The Indian Rupee depreciated 17 paise to 69.59 against the US dollar in opening trade on Tuesday, amid increasing demand for the greenback from importers and banks.
Forex dealers said strengthening of the American currency in the overseas market weighed on the domestic currency. However, sustained foreign fund inflows and positive opening in domestic equities supported the rupee.
The domestic unit opened at 69.55 at the interbank forex market, then lost further ground and fell to 69.59, down 17 paise over its last close.
On Monday, the rupee had settled at 69.42 against the US dollar.
Meanwhile, Brent crude futures, the global oil benchmark, fell 0.27 percent to trade at $70.99 per barrel. On the other hand, Benchmark indices Sensex was trading 212.10 points up at 39,117 94 and Nifty was quoted at 11,743.80 points, up 53.45 points.