Rupee depreciates against US dollar

NEW DELHI: Rupee depreciated 10 paise to 66.24 against dollar in early trade on Monday.

The domestic currency had closed 10 paise lower at 66.14 against the greenback on Friday amid month-end demand for the US currency from importers and banks.

Investors were keenly awaiting key economic data releases in the US including the nonfarm payrolls data on Friday. The numbers may give a hint on whether the Fed would hike interest rates in its forthcoming policy review on September 16-17.

The dollar index, which tracks the movement of greenback against a basket of six major world currencies, stood at 95.79, down 0.32 per cent.

Some top policymakers, including Fed vice-chairman, Stanley Fischer, last week said the recent volatility in global markets could quickly ease and possibly pave the way for the first US rate hike in nearly a decade.

(With inputs from Agencies)