Rupee down 8 paise in early trade against dollar

Breaking a three-day winning run, the rupee today lost 8 paise to 62.02 against the US dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the US currency overseas.

Forex dealers said apart from month-end demand for the American currency from importers, dollar gaining against other currencies overseas also put pressure on the local unit, but a higher opening in the domestic equity market capped the fall.

The domestic currency had gained 13 paise to close at one-week high of 61.97 against the dollar yesterday amid positive stock markets and signs of continued capital inflows.

Meanwhile, the benchmark BSE Sensex was up 41.18 points, or 0.20 per cent, to 20,893.65 in early trade today.