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Rupee opens 8 paise lower against US dollar

The Indian rupee depreciated by 8 paise to Rs 44.41 against the US dollar, weighed down by dollar gains against other currencies and a weak trend in the equity market.

twitter-logo PTI   Mumbai     Last Updated: May 3, 2011  | 11:00 IST

The Indian rupee depreciated by 8 paise to Rs 44.41 against the US dollar in early trade on the Interbank Foreign Exchange on Tuesday, weighed down by dollar gains against other currencies overseas and a weak trend in the equity market.

Forex dealers said the strengthening of the dollar against major currencies overseas and a weak start in the stock market mainly put pressure on the rupee.

The rupee fell by 11 paise to close at Rs 44.33/34 against the US currency in Monday's trade due to dollar demand from banks and corporates.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 97.39 points, or 0.51 per cent, to 18,900.63 in opening trade on Tuesday.

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