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Rupee softens 12 paise against dollar in early trade


Mumbai : The rupee weakened 12 paise to 66.49 against the US dollar in early trade today, snapping its six-session gaining spree at the Interbank Foreign Exchange on fresh demand for the American currency from banks and importers.

Dealers attributed the rupee’s fall to fresh demand for the US currency, but dollar’s weakness against some currencies overseas restricted the losses.

Besides, a lower opening of the domestic equity market weighed on the rupee, they said.

The rupee had appreciated by 15 paise to close at four-month high of 66.37 against the US currency in yesterday’s trade.

Meanwhile, the benchmark BSE Sensex fell by 71.80 points or 0.24 per cent to 28,854.56 in early trade.

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