Rupee declines 12 paise against US dollar in early trade

The rupee slipped 12 paise to 71.39 against the US dollar in the early morning trade on Friday. On Wednesday, the domestic currency rebounded from a six-month low  to end at 71.27, up 13 paise.

The forex market was closed on Thursday on account of Independenece Day. 

"The Indian rupee has now become Asia's worst performing currency so far this month, Chinese yuan depreciated amid trade worries and foreign investor outflows," said V K Sharma, Head-PCG & Capital Market Strategy at HDFC Securities. 

However, a recent poll by Reuters suggested rupee will recoup this year’s losses against the dollar over