Rupee depreciates 31 paise to 46.59/$

The rupee today depreciated by 31 paise to 46.59 a dollar in opening trade on expectations of more capital outflows by foreign funds as market may open lower in line with weak Asian markets.

At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 31 paise down at 46.59 a dollar. It had closed 21 paise down at 46.28/29 against the dollar in previous trading session on Friday.

Dealers said fears of increased capital outflows by foreign funds following a weak pattern in other Asian markets weighed on the rupee sentiment.

Weak Asian currencies and dollar buying by importers to meet their requirements and banks also put pressure on the rupee sentiment.