Rupee down 10 paise at 48.80 a dollar in opening trade

Mumbai, Aug 21 (PTI) The Indian rupee on Friday declined
by 10 paise against the dollar in opening trade on
expectations of capital outflows by funds from the stock
markets following weak Asian markets.

In thin trading at the Interbank Foreign Exchange market,
the domestic unit fell by 10 paise to 48.80 a dollar in early
trade. The rupee closed at 48.70/71 on Thursday.

Dealers said expectations of capital outflows as the
stocks markets may open weak on Friday in tandem with other
Asian bourses, which are down up to two per cent, influenced
the rupee sentiment.

The Bombay Stock Exchange benchmark index rebounded 1.4
per cent yesterday, buoyed by a rally in equity markets
worldwide after recently beaten-down Chinese shares rose and
boosted commodity prices. PTI RS
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