Rupee falls 31 paise against dollar in early trade
The rupee weakened by 31 paise to 62.64 against the U.S. dollar in early trade on Thursday at the Interbank Foreign Exchange on month-end demand for the American currency from banks and importers.
Forex dealers attributed the fall in the rupee to increased demand for the dollar from importers and a lower opening of the domestic equity market but the Greenback’s weakness against other currencies overseas, capped the rupee’s losses.
The rupee had snapped its seven-day winning spree by slipping seven paise to close at 62.33 against the dollar in Wednesday’s trade. Meanwhile, the benchmark BSE Sensex slipped below the 28,000-level by falling 215.03 points, or 0.76 per cent, to 27,896.80 in early trade on Thursday.