Rupee Falls 10 Paise To 70.89 Against US Dollar


The rupee depreciated by 10 paise to 70.89 against the US dollar in early trade on Wednesday at the interbank foreign exchange amid strengthening of the US dollar against some currencies overseas.

Forex traders said besides increased demand of the US currency from importers. The dollar’s strength against some currencies overseas weighed on the rupee but a higher opening of the domestic equity markets, capped the losses.

The rupee opened lower at 70.88 per dollar against and dropped further to quote at 70.89, 10 paise down over its previous close.