The Indian rupee depreciated 22 paise against the $ in early trade today, snapping its six-session upward journey, on expectations of fresh capital outflow by foreign funds as domestic bourses may open in the negative zone, in line with other Asian markets.
At the Interbank Foreign Exchange (Forex) market, the local unit, which had gained nearly 4.9 %during the last week, turned weak and fell 22 paise to 47.32 a $.
On Friday, the domestic currency had ended 27 paise higher at 47.10/12 against the greenback.
Forex dealers said the benchmark Sensex is likely to open on a weak note in line with other Asian markets, which are down up to 1.5 %, leading to capital outflow by foreign funds.
Month-end dollar demand also put pressure on the rupee, they added.
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