INR down 12 paise against USD in early trade

Mumbai, June 2 (PTI) The Indian rupee depreciated by 12
paise to 47.08 against the US dollar in early trade Tuesday,
snapping a four-session upward journey, largely in line with
weakening Asian currencies.

At the Interbank Foreign Exchange (Forex) market, the
local unit, which had been appreciating in the past four
sessions on dollar slide against major currencies and bullish
trend on the domestic bourses, turned somewhat weak and fell
by 12 paise to 47.08 a dollar.

The US currency had ended 15 paise higher at 46.96/97 a
dollar Monday.

Forex dealers said apart from weak Asian currencies,
dollar's buying by banks and increased demand from importers,
checked further rise in the Indian rupee. PTI