Rupee at two-week low, falls by 20 paise in early trade

Mumbai, Aug 12 (PTI) The Indian rupee on Wednesday
depreciated by 20 paise to trade at almost two-week low of
48.16 against the dollar for the second straight session in
early trade on importers' demand for the US currency, which
was also strong against other Asian currencies.

Expectations of capital outflows by foreign funds as
stock markets may open in negative zone in line with other
weak Asian markets, which were down up to 2.4 per cent in
morning trade on Wednesday, also put pressure on the Indian
unit.

At the Interbank Foreign Exchange (forex) market, the
domestic currency was quoted 20 paise lower at 48.16 a dollar,
lowest since July 31. The rupee had lost 15.50 paise to close
at 47.96/97 against the US currency in Tuesday's trade.

Forex dealers said apart from demand from refiners and
importers, firming US dollar against some other Asian