The rupee depreciated 17 paise to 74.75 against the US dollar in opening trade on Friday tracking weakness in other Asian currencies.
The rupee touches a fresh eight-month low as traders cover short dollar with bond yields below six percent for the first time in two months.
Traders also said the domestic unit is trading on a weak note as investors believe that the central bank's bond-buying plan could be bearish for the currency due to inflationary concerns.
CNBC-TV18’s Latha Venkatesh has more details
(Edited by : Abhishek Jha)
First Published: Apr 9, 2021 3:00 PM IST