Rupee slides 4 paise to 68.03 against US dollar

The rupee traded lower by 4 paise at 68.03 against the US dollar in early trade today, pressured by a lower opening in the domestic stock market.

Increased demand for the American currency from importers and banks amid persistent foreign fund outflows also weighed on the rupee. Foreign portfolio investors (FPIs) sold shares worth Rs 754.43 crore yesterday, as per provisional data. Forex dealers said the euro and yen rising against the greenback, however, capped the rupee's fall. Yesterday, the rupee had settled marginally up by 2 paise at 67.99 against the US currency. Meanwhile, the benchmark Sensex moved down by 88.12 points, or 0.25 per cent, at 35,460.14 in opening trade today.