Rupee depreciates 8 paise to 82.14 against US dollar in early trade
The rupee depreciated by 8 paise to 82.14 against the US dollar in early trade on Friday, weighed down foreign fund outflows and losses in domestic equities.
At the interbank foreign exchange, the domestic unit opened weak at 82.12 against the dollar fell further to 82.14, registering a decline of 8 paise over its last close.
On Thursday, the rupee settled at 82.06 against the US dollar.
"The 81.70-80 zone seems protected by the importer's dollar demand and suspected RBI intervention, which brought the INR back to 82.00 levels," CR Forex Advisors MD Amit Pabari said.
Moreover, the March seasonality due to the financial year end and prospects of further FDI flows could help the rupee limit losses, despite weaker Asian peers over the past month, Pabari added.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 105.18.
"The DXY weakened from 105.70 to 105.20 as traders booked profits on the back of increased unemployment