India rupee down 14 paise against US dollar in early trade

US dollar

Indian rupee today lost 14 paise to 54.40 against the dollar in early trade on the Interbank Foreign Exchange due to strengthening of the US currency overseas.

Dealers attributed the rupee's fall to dollar gains against the euro and yen overseas boosted by solid US economic data and a bleak outlook for the troubled euro-zone.

Besides, a lower opening in the stock market also put pressure on the rupee, they said.

The rupee had gained three paise to close at 54.26 yesterday in line with strong local equities amid some dollar selling by exporters.

Meanwhile, the BSE benchmark Sensex fell by 66.26 points, or 0.34 per cent, at 18,974.69 in early trade today.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.