Rupee depreciates 17 paise per dollar

The partially convertible Indian rupee depreciated by 17 paise to Rs 49.47 per dollar on the Interbank Foreign Exchange on Monday due to dollar demand from importers.

The foreign capital outflow have smitten the market sentiments. Dollar strengthening over its overseas rivals.

The Indian rupee opened at 49.30 per dollar versus 49.31 on Friday.

The domestic currency may linger between Rs 49.15 and Rs 49.55 per dollar.

Weak opening in domestic equity market and concern over foreign funds outflows from stock market pressured more on rupee.

At 11.15 am IST, rupee was seen trading at 49.51.

Meanwhile, the BSE was seen trading at 17077.51down by 156.47 points or 0.91%. The 50-share NSE was at 5154.50 down by 50.20 points or 0.96%.

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