Rupee debilitates 23 paise to 73.79 against US dollar in early trade

Mumbai, Oct 23 The rupee depreciated 23 paise to 73.79 against the US dollar in early trade Tuesday as the American currency strengthened overseas.

Dealers attributed the rupee's tumble to expanded interest for the US cash from shippers and sustained foreign fund outflows.

Besides, domestic equity market opening with losses, also weighed on the rupee, they said.

At the interbank foreign exchange, the rupee opened frail at 73.74 then slipped further to quote 23 paise down at 73.79 against the US dollar.

On Monday, the rupee had settled 24 paise lower at 73.56 against the US dollar because of unfaltering capital outflows and strengthening of the American currency.

The benchmark Sensex, broke beneath the 34,000-check by falling 193.15, or 0.57 percent to 33,941.23 in the opening exchange Tuesday.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares of Rs 511.91 crore Monday, as per provisional data.