Re sheds 5 paise vs $ in early trade

The Indian rupee fell marginally by 5 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 48.73 against the $, a fall of 5 paise over the previous close of 48.67/68 a $.

The domestic currency appreciated by 17 paise at 48.67/68 against the $ on Friday.

Dealers said concerns of capital outflows by funds on fears that the domestic stock markets may open a shade lower, in tandem with other Asian bourses, mainly put pressure on the Indian rupee.

 

They said movements were restricted as traders preferred to keep their commitments at a low ebb ahead of an interim budget, which is expected to be presented in parliament at 1100 hrs.