Rupee falls 17 paise to close at 68.71 against dollar on rising crude, capital outflow

Mumbai: The rupee opened on a cautious note and fell 9 paise to 68.80 against the US dollar in early trade Wednesday amid rising crude oil prices and foreign fund outflows.

At the Interbank Foreign Exchange, the rupee opened at 68.69 then fell to 68.80 against the US dollar, showing a decline of 9 paise over its previous closing.

The Indian rupee Tuesday had closed at 68.71 against the US dollar.

Forex traders said rising Brent crude prices and foreign fund inflows weighed on the domestic currency, while weakening of the greenback vis-a-vis other currencies overseas and positive opening in domestic equities added support to the local unit and restricted the downfall.