Rupee down 70 paise against dollar in early trade
Mumbai: The rupee on Monday again turned weak and plunged 70 paise to 63.90 against the US dollar in early trade after strong recovery on Friday, due to increased demand for the American currency from importers and some banks.
Dealers said besides increased month-end demand for dollar from importers, dollar's gain against some currencies overseas put pressure on the domestic currency.
However, a higher opening in the domestic equity market, capped the rupee's fall, they said.
The rupee had made a stunning comeback by rising 135 paise to close at 63.20, its second-biggest rise in a decade against the dollar on Friday.
Meanwhile, the BSE benchmark Sensex rose further by 143.77, or 0.78 percent, at 18,663.21 in early trade today.