The Indian rupee today fell by 30 paise against the dollar in opening trade on expectation of fresh capital outflows as markets may open with losses in line with other Asian bourses.
Dollar's gain against other Asian currencies and demand for the US currency from importers also put pressure on the Indian currency.
At the Interbank Foreign Exchange (Forex) market, the domestic unit declined by 30 paise to 48.25 a dollar over its previous close. The rupee appreciated by 3 paisa to close at 47.95/96 in the previous session.
Forex dealers said rupee turned weak on anticipation of increased capital outflows as the stock markets may open on a weak note in line with other Asian bourses, which are down up to 2.6 per cent in morning trade.
They said dollar's firmness against other Asian currencies and increased demand from importers for the US currency, also weighed on the rupee.
Source : Business Standard