Forex dealers said besides the dollar's gains against other currencies overseas after US data showed the economy expanded at its fastest pace since 2011 during the April-June quarter, fresh demand from importers for the American unit put pressure on the rupee.
Mumbai: The rupee depreciated by 25 paise to 61.40 against the US dollar in early trade on Monday at the Interbank Foreign Exchange due to month-end demand for the US currency from importers amid a weak opening in the domestic equity market.
Forex dealers said besides the dollar's gains against other currencies overseas after US data showed the economy expanded at its fastest pace since 2011 during the April-June quarter, fresh demand from importers for the American unit put pressure on the rupee.
The rupee had recovered by 19 paise to close at 61.15 against the dollar in Friday's trade in tune with local equities.
Meanwhile, the benchmark BSE Sensex fell by 82.11 points, or 0.31 per cent, to 26,544.21 in early trade on Monday.
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