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Rupee down 12 paise on strong dollar demand in early trade

Rupeenew_6

Mumbai :The rupee weakened by another 12 paise to trade at a fresh one-month low of 65.87 against the US dollar in early trade today at the Interbank Foreign Exchange due to sustained demand for the American currency from importers.

Besides, sustained foreign capital outflows kept pressure on the rupee, forex dealers said.

However, a higher opening in the domestic equity market and the dollar’s weakness against other currencies overseas capped the losses, they added.

The rupee had lost 26 paise to close at more than one-month low of 65.75 against the US dollar yesterday on fresh demand for the American currency from banks and importers amid higher greenback in overseas markets.

Meanwhile, the benchmark BSE Sensex recovered by 111.32 points, or 0.422 per cent, at 26,415.52 in early trade today.

PTI