Rupee weakens 17 paise against dollar

Mumbai: The rupee depreciated by another 17 paise to 66.63 against the dollar in early trade on September 7, as the US currency strengthened in overseas markets. Forex dealers said persistent demand for the dollar from importers and sustained capital outflows by foreign funds also weighed on the rupee. Early gains in stock markets, however, limited the rupee losses against dollar, they added.

The rupee had declined by 22 paise to settle at 66.46 against the US dollar on Friday on persistent demand for the American currency from banks and importers amidst foreign capital outflows. Meanwhile, the benchmark Sensex rose by 148.11 points, or 0.59 per cent, to 25,350.01 in early trade.