Rupee falls by 9 paise against dollar

The rupee depreciated further by 9 paise against the greenback in early trade on the dollar gaining strength against some regional currencies and funds outflows from domestic markets in line with Asian bourses, which too opened weak.

The rupee on Wednesday depreciated further by 9 paise against the greenback in early trade on the dollar gaining strength against some regional currencies and funds outflows from domestic markets in line with Asian bourses, which too opened weak.

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At the Interbank Foreign Exchange (Forex) market, the domestic currency traded lower at 49.29 against the US currency, a fall of 9 paise over the previous close of 49.20/22 a dollar.

The rupee had lost 50 paise at 49.20/22 against dollar on Tuesday.

Dealers said fears of capital outflows as domestic stock markets were expected to open sharply lower in line with weak trends in other Asian bourses in early trade and the dollar rise against the basket of other currencies mainly put pressure on the rupee.

Meanwhile, Japan's Nikkei fell by 1.36 per cent, while Hong Kong's Hang Seng shed 2.10 per cent in early trade.