Mumbai, Jan 15 (PTI) The Indian rupee today depreciated by 16 paise against the US currency due to dollar buying by importers amid weak equity markets.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the domestic unit closed lower by 16 paise at 45.78/79 a dollar.
Dealers said that there was dollar buying by importers which put pressure on the rupee.
Firm dollar overseas against its major rivals too supported the rupee downtrend, they added.
The dollar rose in the overseas market, reversing earlier losses against the other major currencies as investors were cautious of building risker positions while the global economic outlook remains uncertain.
Some weakness in local equities too partly weighed on the rupee. The Indian benchmark Sensex today ended lower by 30.57 points today.
The domestic unit opened weak at 45.72/73 per dollar from its previous close of 45.62/63.
Source : PTI