Rupee sheds 4 paise against US dollar

MUMBAI: The Rupeedepreciated 4 paise to 66.70 against the US Dollarin early trade today on fresh demand for the Greenbackfrom importers and banks ahead of US Federal Reserve's two-day policy meet outcome.

Dealers attributed the rupee's fall to fresh demand for the US Dollarand sustained foreign fund outflows.

However, a higher opening in the domestic equity markets and weakness in the American Currencyagainst some currencies in the global market ahead of the Fed policy announcement capped the Rupeefall, they said.

On Friday, the Rupeehad gained 9 paise to close at 66.66 on dollar-selling by exporters and a stellar rally in local equities.

Forex market remained closed on Monday and Tuesday on account of 'Buddha Purnima' and 'Maharashtra Day', respectively.

Meanwhile, the benchmark BSE Sensex was trading higher by 196.79 points, or 0.55 per cent, at 35,357.15 in opening deals.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

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PTI