more-inThe rupee depreciated by 9 paise against the US dollar to 65.03 against in opening trade today as the greenback firmed up ahead of US Federal Reserve’s policy meet this week. A strong dollar and sustained foreign fund outflow weighed on the domestic unit amid rising current account deficit in the December quarter, a currency dealer said. The current account deficit rose to 2 % of the GDP at USD 13.5 billion in the December quarter, up from $ 8 billion or 1.4 % in the year-ago period, on the back of higher trade deficit, RBI data showed. On Friday, the rupee had ended 1 paisa lower at 64.94 against the US dollar. Meanwhile, the benchmark BSE Sensex, after falling for four straight sessions, rebounded 99.79 points, or 0.30 %, to 33,275.79 in opening trade today.

Source: The Hindu March 19, 2018 04:29 UTC