Rupee declines 16 paise against dollar in early trade

Rupee declines 16 paise against dollar in early trade
Rupee declines 16 paise against dollar in early trade

Mumbai: Snapping its four-day rising streak, the rupee fell 16 paise to 64.96 against the dollar in early trade due to fresh dollar demand from importers.

Besides, a weak opening in the domestic equity market put pressure, dealers said. A weakness in the US dollar against major world currencies in the global market, however, limited the rupee fall, they said.

The domestic currency had gained 1 paisa to close at 64.80 in the previous session on selling of dollars by banks and exporters in view of a firm trend in the stock market. Meanwhile, the benchmark BSE Sensex fell 27.97 points, or 0.10 per cent, to 27,336.95 in early trade today.

Rupee declines 16 paise against dollar in early trade