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Journalism of Courage
The Indian rupee depreciated by 14 paise against the US dollar in early trade on Thursday amid hopes of capital outflows and a rise in the American currency in the overseas market.
At the Interbank Foreign Exchange (Forex) market,the domestic unit traded 14 paise down at 46.81 a dollar. It had closed 4 paise up at 46.67/68 in Wednesday’s volatile trading.
Dealers said fears of fresh capital outflows by foreign funds following a weak trend on other Asian markets and dollar’s gains against some currencies on the back of the Federal Reserve’s confidence about the US economy,mainly weighed on the rupee sentiment.
Besides,dollar buying by importers also impacted the rupee sentiment,they said.
