Rupee falls 25paise against US dollar

Rupee falls 25paise against US dollar

Mumbai: The rupee on Friday depreciated by 25paise against the US dollar in early trade on strengthening of the US dollar against major currencies and melting Asian equity markets.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at Rs47.20 against the US dollar, a fall of 25paise over the previous close of Rs46.95/96 a dollar.

US dollar’s rebound against the basket of currencies and fall in Asian equity markets brought the rupee down, said Forex dealers.

Asian markets opened weak on Friday with Hong Kong’s Hang Seng going down almost 2%, while Japan’s Nikkei 225 falling 1.10% in early trade.

The rupee in the last trading session had appreciated by 71paise to close at nearly 11-week high of Rs46.95/96.