Rupee slips 4 paise to 72.87 against US dollar in early trade
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The rupee depreciated by 4 paise to 72.87 against the US dollar in early trade on Monday following a strong American currency overseas and surging crude prices. However, a positive trend in domestic equity markets and foreign fund inflows restricted the rupee’s fall, forex traders said. At the interbank foreign exchange, the domestic unit opened lower at 72.88 against the US dollar and recovered some ground to quote 72.87 in early deals, a fall of 4 paise over its previous close. On Friday, the rupee had surged 29 paise to hit an eight-week high of 72.83 against the US dollar.
