Mumbai, Aug 21 (PTI) The Indian rupee today declined by 10 paise against the dollar in opening trade on expectations of capital outflows by funds from the stock markets following weak Asian markets.
In thin trading at the Interbank Foreign Exchange market, the domestic unit fell by 10 paise to 48.80 a dollar in early trade. The rupee closed at 48.70/71 yesterday.
Dealers said expectations of capital outflows as the stocks markets may open weak today in tandem with other Asian bourses, which are down up to two per cent, influenced the rupee sentiment.
The Bombay Stock Exchange benchmark index rebounded 1.4 per cent yesterday, buoyed by a rally in equity markets worldwide after recently beaten-down Chinese shares rose and boosted commodity prices.
Source : PTI