Rupee down 10 paise against dollar in early trade

Mumbai – Continuing its falling streak for the fourth straight day, the rupee fell by 10 paise to 61.98 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange market on sustained demand for the American currency from importers.

Forex dealers said apart from demand from importers, a lower opening in the domestic equity market also put pressure on the rupee but the strength of other currencies against the US dollar in global markets, capped the fall.

The rupee had lost 26 paise to close at a one-week low of 61.88 against the dollar in yesterday’s trade.

Meanwhile, the benchmark BSE Sensex fell 74.56 points, or 0.35 per cent, to 21,176.56 in early trade today.