The rupee depreciated by 8 paise to 60.21 against the US dollar in early trade today, extending losses for the fourth day at the Interbank Foreign Exchange market due to month-end demand for the American currency from importers.
The dollar's gains against other currencies overseas and a lower opening in the domestic equity market also put pressure on the local unit.
The rupee had weakened by 3 paise to end at nearly a one-week low of 60.13 against the dollar on Monday. Forex market remained closed yesterday on account of "Id-ul-Fitr".
The dollar's gains against other currencies overseas and a lower opening in the domestic equity market also put pressure on the local unit.
The rupee had weakened by 3 paise to end at nearly a one-week low of 60.13 against the dollar on Monday. Forex market remained closed yesterday on account of "Id-ul-Fitr".
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