Rupee falls 12 paise to 79.76 against U.S. dollar in early trade

On Thursday, the rupee depreciated 19 paise to close at 79.64 against the U.S. dollar

The rupee depreciated 12 paise to 79.76 against the U.S. dollar in opening trade on Friday, tracking the strength of the American currency in the overseas market.

At the interbank foreign exchange, the rupee opened at 79.75 against the U.S. dollar, then fell to 79.76, registering a decline of 12 paise over the last close.

On Thursday, the rupee depreciated 19 paise to close at 79.64 against the U.S. dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.13% to 107.62.

Meanwhile, global oil benchmark Brent crude futures fell 0.37% to $96.23 per barrel.

The rupee opened weaker on Friday after the dollar index reached a one-month high following comments from U.S. Federal Reserve officials over the quantum of rate hikes, said Sriram Iyer, Senior Research Analyst at Reliance Securities.

Supports for the USD/INR spot pair are at 79.60 and 79.50 and resistances are at 79.80 and 79.90. A break above the resistances will push the pair to 80.15 levels, Mr. Iyer said.