The rupee depreciated by 14 paise to 79.70 against the US dollar in opening trade on Friday, weighed down by strength of the American currency in the overseas market.
At the interbank foreign exchange market, the rupee opened at 79.63 against the greenback, then fell further to 79.70, registering a decline of 14 paise over its last close.
On Thursday, the rupee declined by 4 paise to close at 79.56 against the dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12 per cent to 109.55.
The rupee opened on a weak note as the dollar index advanced to 109.60 with the British pound falling to its lowest in two years while Yen touched the 140-mark, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.
Forex traders said though oil prices remained subdued, weak Asian and emerging market peers and higher inflation expectation might weigh on the local currency.
The global oil benchmark Brent crude futures ..
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