Rupee down 30 paise against dollar in early trade
The rupee depreciated by 30 paise to 61.14 against the U.S. currency in early trade at the Interbank Foreign Exchange market on Wednesday due to the dollar’s gain against other currencies overseas.
Forex dealers said besides the dollar’s gain against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
The domestic currency had gained nine paise to close at 60.84 against the U.S. dollar in Tuesday’s trade on the back of rising local stock market and sustained dollar selling by exporters. Meanwhile, the benchmark BSE Sensex fell 37.45 points, or 0.14 per cent, to 25,870.56 in early trade on Wednesday.