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Rupee down 41 paise vs dollar in early trade

Thursday, 20 March 2014 - 9:40am IST | Place: Mumbai | Agency: PTI

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The rupee fell by 41 paise to 61.36 against the dollar in early trade on Thursday due to increased demand for the US currency from banks and importers amid a weak opening in local equities.

Dealers said besides increased demand for the American currency from importers, dollar's strength against other currencies overseas after the US Federal Reserve hinted that the central bank could hike interest rates earlier than expected, mainly put pressure on the local unit.

The rupee had gained 24 paise to close at nearly one-week high of 60.95 against the dollar yesterday following selling of the US currency by exporters and some banks, amid sustained heavy capital inflows.

Meanwhile, the BSE benchmark Sensex fell by 86.44 points, or 0.39%, to 21,746.42 in early trade on Thursday. 

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