12 May,2009 11:06 AM IST | | Agencies
The Indian rupee today depreciated by 18 paise at 49.68 against the US currency on expectations of capital outflows by foreign funds amid heavy dollar demand from importers.
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Forex dealers said uncertainty over the outcome of the Lok Sabha elections is influencing trading sentiments here and the domestic bourses are expected to open on a weaker note today, leading to capital outflows by foreign funds.
Besides, increased dollar demand from importers and a strong dollar against other major currencies also put pressure on the local currency.
At the Interbank Foreign Exchange (Forex) market, the domestic unit, which closed at 49.50/52 yesterday, fell by 18 paise to 49.68. The bellwether Sensex yesterday ended lower by 193.44 points or 1.63 per cent.
