Mumbai, Jul 6: The rupee fell 8 paise to trade at 69.03 against the US dollar in early trade today on an appreciation of the American currency overseas and sustained foreign capital outflows.

This is the rupee's third straight slide, which dealers say is mostly due to demand for the US currency and a lower opening in the domestic equity market. With the US set to impose tariffs on Chinese goods today, investors feared it could trigger a full scale global trade war.

Yesterday, the rupee had tumbled 21 paise to a fresh closing low of 68.95, following a panic demand for the US dollar coupled with savage capital flight worries. Foreign portfolio investors (FPIs) sold shares worth Rs 159.37 crore yesterday, as per provisional data. Meanwhile, the benchmark Sensex down by 42.34 points, or 0.11 per cent, to 35,532.21 in early trade.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)