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Rupee softens 12 paise against dollar in early trade


Mumbai : The rupee was trading lower by 12 paise at a fresh two-week low of 66.70 against the US dollar in early trade today on increased demand for the American currency from importers.

Besides, strength in the US dollar against other overseas currencies and a lower opening in domestic equities also kept pressure on the domestic unit, dealers said.

Yesterday, the rupee ended lower by 4 paise, hitting 2-week low of 66.58 on fag-end dollar demand from banks and importers amid higher greenback in the global markets, despite a sharp recovery in domestic equities.

Meanwhile, the benchmark BSE Sensex fell by 34.71 points, or 0.13 per cent, to 25,654.15 in early trade.

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