The Indian rupee today slid by 20 paise against the US currency in opening trade on expectations of capital outflows and increased dollar demand from importers.
Dollar gains against other currencies also put pressure on the Indian rupee.
At the Interbank Foreign Exchange (Forex) market, the domestic unit declined by 20 paise to 48.68 a dollar over its previous close. The rupee had appreciated by 15 paise to close at 48.48/49 in the Friday session.
Forex dealers said rupee turned weak on anticipation of increased capital outflows as the stock markets may open on a weak note in line with other Asian bourses, which are down up to 2.19 per cent in morning trade.
They said dollar's firmness against other currencies and increased demand for it from importers, also weighed on the rupee.
Source : Business Standard