Rupee at 64.39, loses 13 paise against dollar on losses in equity markets

Early losses in domestic equity markets and increased foreign fund outflows weighed on the rupee.

The rupee on Friday depreciated by 13 paise to trade at 64.39 against the US dollar on increased demand for the American currency from importers and banks.

An Indian one rupee coin is seen in this picture illustration taken in Mumbai. (Reuters)

Dealers said early losses in domestic equity markets and increased foreign fund outflows weighed on the rupee.

The dollar, however, was trading weak against Asian currencies after its overnight losses against the euro and the pound which capped its losses.

The rupee moved in a range of 64.33 to 64.40 in early trade.

On Thursday, the rupee had closed marginally up 2 paise at 64.26 against the US dollar in line with a good recovery in equity markets.

Foreign investors sold shares worth Rs 2,297 crore on net basis on Thursday.

The benchmark BSE Sensex crashed 563.51 points, or 1.63%, to 33,849.65, while Nifty tanked by 178.65 points, or 1.68% to 10,398.20 in opening trade.