Mumbai – The rupee depreciated 9 paise to 88.77 against the US dollar in early trade on Tuesday, weighed down by the broad strength of the American currency in the overseas market.

Forex traders said the optimism surrounding the India-US trade talks was negated by foreign fund outflows amid a risk-off tone globally.

Moreover, the Reserve Bank of India is monitoring the depreciation of the USDINR pair towards 88.80, they said.

At the interbank foreign exchange market, the rupee opened at 88.73, and slipped to 88.77 against the greenback, registering a fall of 9 paise from its previous close.

On Monday, the rupee appreciated 4 paise to close at 88.68 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.07 p

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