Rupee down 7 paise in early trade on dollar demand

Falling for the second straight day, the rupee depreciated further by 7 paise to 65.12 against the dollar in early trade on increased demand for the US currency from importers.

Forex dealers said dollar's weakness against other currencies in global markets also weighed, but a higher opening in the domestic equity market capped the losses.

The rupee fell 25 paise to 65.05 against the dollar in yesterday's trade on fresh dollar demand from banks.

Meanwhile, the benchmark BSE Sensex was trading higher by 73.30 points, or 0.26%, to 27,380.13 in early deals.