Rupee opens 5 paise down at 68.59 against US dollar in early trade


MUMBAI: The rupee depreciated marginally by 5 paise to 68.59 against the US dollar in early trade on Tuesday.

At the interbank forex market, the rupee opened weak at 68.59 registering a decline of 5 paise over its last close.

The local currency however pared the initial loss and was trading at 68.55 at 0945 hrs.

On Monday, the rupee had settled at 68.54 against the US dollar.

According to the Forex traders, weak trade data, foreign fund outflows and rising crude oil prices weighed on the domestic currency.

According to the government data, India's exports entered negative zone after a gap of eight months recording a decline of 9.71 per cent to USD 25.01 billion in June.

Brent crude futures, the global oil benchmark, rose 0.12 per cent to USD 66.56 per barrel.

As per provisional data, foreign institutional investors (FIIs) pulled out Rs 216.44 crore on a net basis on Monday.

Domestic bourses opened on a positive note on Tuesday with benchmark indices Sensex trading 109.86 points higher at 39,006.57 and Nifty up 31 points at 11,619.35.

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