Indian rupee down 17 paise against dollar in early trade

Indian rupeeDollar strengthening against other currencies in the global market puts pressure on the Indian rupee.

The rupee today lost 17 paise to 62.02 against the dollar in early trade on the Interbank Foreign Exchange market due to month-end demand of the US currency from importers.

Forex dealers said dollar strengthening against other currencies in the global market also put pressure on the rupee but sustained rise in domestic equities capped the fall.

The domestic currency had closed higher by 31 paise at 61.85 on Friday after a rally in local equities and fresh sales of the US currency by exporters.

Meanwhile, the BSE benchmark Sensex rose by 100.86 points, or 0.48 per cent, at 21,294.44 in early trade today.

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