Mumbai: The rupee on Thursday depreciated by 21 paise to 56.21 against the US dollar at the Interbank Foreign Exchange market in early trade, following strong demand for the American currency from importers amid concerns over deepening eurozone crisis.
Dealers said the local unit fell for the seventh day in a row mainly on stronger American currency against the euro and other major currencies overseas and persistent dollar demand from importers, particularly oil companies.
They added that rupee sentiment was so weak that even selling of dollar by exporters and banks failed to check its value.
The rupee had lost 61 paise to close at 56 after touching a new record low of 56.22 against the dollar on Wednesday.
Meanwhile, the BSE benchmark Sensex recovered by 84.29 points, or 0.53 percent, to 16,032.39 in early trade.


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