Rupee weakens by 8 paise against U.S. dollar.

The Indian rupee depreciated by 8 paise to Rs. 44.84 per U.S. dollar in early trade on the Interbank Foreign Exchange today, weighed down by dollar gains against the other currencies overseas.

Forex dealers said strengthening of the dollar against other Asian currencies overseas mainly put pressure on the rupee, but the higher opening on the stock market capped the losses.

The rupee tumbled by 29 paise against the U.S. currency to close at more-than-one-month low of 44.76/77 in yesterday’s trade amid distinctly weak equities and fresh dollar demand from importers.

Source : thehindu.com