The rupee fell sharply by 47 paise to 69.82 against the US dollar in early trade Monday on higher demand for the greenback from importers and banks. Forex dealers said besides increased demand of the US currency from importers, lower opening of the equity markets weighed on the rupee. The domestic unit opened lower at 69.78 against the dollar then dropped further to quote at 69.82, down 47 paise over its previous close. The rupee Thursday had gained 25 paise to 69.35 against the US dollar after three sessions of losses. Meanwhile, the BSE benchmark index was trading 309.56 points or 0.79 per cent lower at 38,830.72.

Source: The Hindu April 22, 2019 04:30 UTC