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Rupee depreciates 25 paise against dollar

The Indian rupee on Friday depreciated by 25 paise against the greenback in early trade on strengthening of dollar against major currencies and melting Asian equity markets.

business Updated: Dec 19, 2008 10:05 IST

The Indian rupee on Friday depreciated by 25 paise against the greenback in early trade on strengthening of dollar against major currencies and melting Asian equity markets.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 47.20 against the US currency, a fall of 25 paise over the previous close of 46.95/96 a dollar. Forex dealers said dollar's rebound against the basket of currencies and fall in Asian equity markets brought the rupee down.

Asian markets today opened weak with Hong Kong's Hang Seng going down almost two per cent, while Japan's Nikkei 225 falling 1.10 per cent in early trade.

The rupee in the last trading session had appreciated by 71 paise to close at nearly 11-week high of 46.95/96.