Rupee depreciates 40 paise against US dollar in early trade

The rupee opened 12 paise lower at 69.80 against the US dollar on Tuesday amid mixed Asian cues. Minutes later, the currency depreciated further to surpass 70-mark at 70.08. 

On Monday, the domestic currency pared early gains but managed to end four paise higher at 69.68 following dovish stance by the Federal Reserve and rising hopes of a thaw in ongoing US-China trade tiff.

Besides, smart gains in domestic equities and weakening of the greenback in overseas markets propped up the Indian currency, said a PTI report.

The dollar-rupee January contract on the NSE was at 69.82 in the previous