Rupee hits two week low at 40.18 per USD

Mumbai, Mar 3: The Rupee today hit a two week low to open at 40.18/19 against US Dollar, depreciating by about 17 paise from its previous close of 40.01/02 per dollar on negative note in the Indian equity market.

The local unit fell to its weakest in over one week on concerns of sharp fall in Asian markets. It would instigate selling local investments and repatriate the funds by the foreign investors, dealers said.Backhome, the Sensex dipped over 570 points in the early trade that also caused the Rupee to depreciate against the greenback, dealers added.

UNI