Rupee depreciates

The rupee depreciated by four paisas against the dollar on Tuesday; following the high demand for import and corporate payments, dealers said.The rupee ended at 104.83 to the dollar from the previous day’s closing of 104.79 in the interbank foreign exchange market.

The interbank foreign exchange market opened in a band of 104.80 and 104.85. The buying and selling of the dollar, in the open market, was recorded at 105.05/105.25.