MUMBAI: The rupee depreciated by 13 paise to 70.07 against the US dollar in early trade on Friday.
“Rising crude oil prices and strengthening of the US dollar against some major rival currencies overseas also pulled down the local unit”, Forex traders said.
The rupee opened weak at 70.04 at the interbank forex market and then fell further to 70.07 against the American currency, down 13 paise over its last close.
On Thursday, the rupee had settled at 69.94 against the US dollar.
On the domestic front, foreign institutional investors (FIIs) pulled out Rs 655.36 crore on a net basis on Thursday, provisional data showed.
Domestic bourses opened on a cautious note on Friday with benchmark indices Sensex trading 18.16 points higher at 37,577.07 and Nifty down 4.70 points at 11,297.10.
Brent crude futures, the global oil benchmark, rose 0.31 per cent to USD 70.61 per barrel.
With inputs from PTI