Rupee down 8 paise to over two-year low on month-end dollar demand

The rupee depreciated 8 paise to quote at a fresh over two-year low of 66.84 against the dollar in early trade on month-end demand for the American currency from importers and banks.

The dollar was firm against major global currencies which dampened rupee sentiment, dealers said.

Besides, persistent foreign capital outflows affected the market sentiment, but a higher opening of the domestic equity market, capped the losses, they added.

The rupee had tumbled by 19 paise to end at more than two-year low of 66.76 against the US dollar in Friday's trade on month-end demand for the American currency from importers and some banks.

Meanwhile, the benchmark BSE Sensex rose 44.52 points, or 0.17%, to 26,172.72 in early trade.