Re sheds 19 paise vs $ in early trade

The Indian rupee fell by 19 paise against the US currency in early trade today in line with weak trend in Asian equities raising concerns of capital outflows by funds from the domestic stock markets.

At the Interbank Foreign Exchange (Forex) market, the domestic currency was quoted at 49.80 against the $, a fall of 19 paise over the previous close of 49.61/63 a $.

The domestic currency yesterday recovered by 31 paisa to 49.61/63 against the $.

Dealers said concerns of capital outflows by funds on the domestic stock markets opening lower by over 195 points to 8,847.58 in early trade, in tandem with other Asian bourses, mainly put pressure on the Indian rupee.

They said, the dollar's gains against major currencies also weighed on the domestic currency.