Rupee opens at 40.79/80 per dollar

Mumbai, Aug 8: After the Government tightened the External Commercial Borrowings (ECBs) norms yesterday, Rupee today took a deep plunge and opened at 40.79/80 per US dollar.

The Indian unit fell by almost 40 paise against dollar as compared to the previous close of 40.40/41 per USD.

During the early sessions rupee traded weaker against the foreign currencies and the market was extremely voletile. However, during the intra-day trade it touched the high of 40.57/58 and currently trading at 40/56 per dollar, dealers said.

''The revised ECBs norms has shown its impact, which resulted the sharp depreciation of rupee against dollar,'' a Senior Forex dealer said.

UNI