The rupee depreciated 6 paise to 66.70 against the US currency in early trade on Monday at the Inter-bank Foreign Exchange due to increased demand for the dollar from importers.
Dealers attributed the rupee’s fall to increased demand for the US currency, but a higher opening of the domestic equity market and the dollar’s weakness against some currencies overseas capped the losses.
The rupee had dropped 21 paise to end at 66.64 on Wednesday on fag-end dollar demand from banks and importers despite a sharp rally in domestic equities.
Forex market remained closed on Thursday and Friday for ‘Ambedkar Jayanti’ and ‘Ram Navami’, respectively.
Meanwhile, the benchmark BSE Sensex rallied 193.97 points, or 0.76 per cent, to 25,820.72 in early trade.