Rupee slips by 5 paise against dollar in early trade
The rupee weakened by 5 paise against the US currency to trade at 63.96 in opening session today due to month-end dollar demand from importers and banks.
Forex dealers said month-end demand for the US currency from importers and a lower opening in the domestic equity market put pressure on the rupee.
A weak dollar overseas however provided some cushion to the domestic currency, they added.
Yesterday, the rupee had rallied by 13 paise to end at a near three-week high of 63.91 a dollar on account of heavy selling of the US currency by exporters and banks.
Meanwhile, the benchmark BSE Sensex fell 150.20 points, or 0.47 per cent, to 31,600.62 in early trade today.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.