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Rupee down 28 paise against dollar in early trade

Tuesday, 27 May 2014 - 9:38am IST | Place: Mumbai | Agency: PTI

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The rupee lost 28 paise to 58.99 against the dollar in early trade on Tuesday, extending weakness for the third day, on the Interbank Foreign Exchange market due to month-end demand of the US currency from importers.

Forex dealers said dollar strengthening against other Asian currencies in the global market and a lower opening of the domestic equity market also weighed on the rupee.

The domestic currency had closed lower by 19 paise at 58.71 on Monday amid demand for the American currency from oil importers and late profit-booking in equities.

Meanwhile, the BSE benchmark Sensex fell by 160.88 points, or 0.65%, at 24,556.00 in early trade on Tuesday.

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