Dynamite News Rupee weakens 9 paise against dollar
The rupee depreciated by 9 paise against the US dollar to 65.03 against in opening trade.
Mumbai: The rupee depreciated by 9 paise against the US dollar to 65.03 against in opening trade today as the greenback firmed up ahead of US Federal Reserve's policy meet this week.
A strong dollar and sustained foreign fund outflow weighed on the domestic unit amid rising current account deficit in the December quarter, a currency dealer said.
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The current account deficit rose to 2 per cent of the GDP at USD 13.5 billion in the December quarter, up from USD 8 billion or 1.4 per cent in the year-ago period, on the back of higher trade deficit, RBI data showed.
On Friday, the rupee had ended 1 paisa lower at 64.94 against the US dollar.
Foreign investors withdrew a net Rs 150.46 crore from stocks on Friday, according to provisional data.
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Meanwhile, the benchmark BSE Sensex, after falling for four straight sessions, rebounded 99.79 points, or 0.30 per cent, to 33,275.79 in opening trade today.