Mumbai, Feb 1 (PTI) The rupee Friday depreciated by 9 paise to 71.17 in early trade on the forex market amid strengthening of the American currency and caution ahead of interim budget. Also Read - Mumbai Rains: Heavy Rains Paralyse City, IMD Warns of 'Flooding', Local Trains Suspended Due to Waterlogging; BMC Declares Holiday
Forex traders said strengthening of the US dollar against some currencies overseas, focus on interim budget and rising crude oil prices weighed on the local unit. Also Read - Kangana Ranaut Receives Notice From BMC Over 'Unauthorised Construction' of Her Residence, Here’s What They Found ‘Illegal’
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At the Interbank Foreign Exchange, the rupee opened at 71.08 then fell further to 71.17 against the US dollar, showing a decline of 9 paise over its previous closing.
On Thursday, the rupee had settled 4 paise higher at 71.08 against the US dollar.
However, positive opening in domestic equities and fresh foreign fund inflows capped the losses for the domestic unit.
Foreign funds bought shares worth Rs 3,006.41 crore from the capital markets on a net basis Thursday, while domestic institutional investors sold shares worth Rs 1,634.32 crore, provisional data showed.
The global benchmark, brent crude oil was trading at USD 61.49 per barrel, higher by 0.28 per cent.
Meanwhile, domestic equity market opened on a higher note. The 30-share BSE benchmark Sensex, was trading at 36,364.70, up 106.13 points in early trade. The wide-based Nifty was also trading up by 30.20 points at 10,861.15. PTI
This is published unedited from the PTI feed.