The rupee depreciated 22 paise to 67.86 against the US dollar in early trade on Monday at the Interbank Foreign Exchange market due to appreciation of the American currency overseas amid a lower opening in the domestic equity market.

Forex dealers said increased demand for the US currency from importers and dollar’s gains against other currencies overseas put pressure on the rupee.The rupee had ended 6 paise down at 67.64 against the US dollar on Friday on demand for the American unit from banks and importers.Meanwhile, the benchmark BSE Sensex fell by 44.41 points, or 0.18 per cent, to 24,572.56 in opening trade on Monday.

Source:thehindu.com

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