Rupee depreciates by 13 paise against dollar

The Indian rupee on Monday fell by 13 paise to 49.98 against the US currency in early trade as weak Asian equity markets raised concerns of fresh capital outflows by funds.

The Indian rupee on Monday fell by 13 paise to 49.98 against the US currency in early trade as weak Asian equity markets raised concerns of fresh capital outflows by funds.

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Besides, strengthening of dollar against other major currencies also put pressure on the Indian rupee.

At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted lower at 49.98 a dollar, down by 13 paise over the previous close of 49.85/86.

Forex dealer said expectations of capital outflows by foreign funds and dollar’s strength against some other Asian currencies, mainly weighed on the rupee.

The rupee had ended 8 paise lower at 49.85/86 against the dollar on Friday, even as the BSE Sensex ended 0.69 per cent higher.

Meanwhile, Japan’s Nikkei shed 0.30 per cent in early trade on Monday.