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Rupee Sheds 30 Paise Against US Dollar in Early Trade on Tuesday

Strength in dollar against some currencies overseas and a lower opening in domestic equities kept pressure on rupee.

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The Indian rupee depreciated 30 paise to 71.30 against the US dollar ($) in early trade on Tuesday, 26 February, at the forex market on fresh demand for the US currency from importers.

Strength in dollar against some currencies overseas and a lower opening in domestic equities kept pressure on the domestic unit, dealers said.

On Monday, the rupee firmed up by 17 paise to close at 70.97 against the US dollar in line with most Asian currencies amid hopes that the US and China will soon reach an agreement to settle their trade tariff issues.

Meanwhile, the benchmark BSE Sensex fell 349.78 points, or 0.97 percent, to 35,863.60 in opening deals on Tuesday.

(Published in arrangement with PTI)

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