Rupee weakens 23 paise to 73.79 against dollar

The rupee depreciated 23 paise to 73.79 against the US dollar in early trade yesterday as the American currency strengthened overseas.

Dealers attributed the rupee’s fall to increased demand for the dollar from importers and sustained foreign fund outflows. Besides, the domestic equity market’s opening in the red also weighed on the rupee, they said. At the interbank foreign exchange, the rupee opened weak at 73.74 then slipped further to quote 23 paise down at 73.79 against the US dollar.