Rupee extends weakness, down 13 paise against USD

Falling for the fourth straight session, the rupee today weakened by another 13 paise to 63.70 against the US dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the greenback against other currencies overseas.

Dealers attributed this fall to dollar's gains against other currencies overseas and year-end demand from importers for the American currency but a higher opening in the domestic equity market capped the losses.

The rupee had slipped 6 paise to close at 63.57 against the dollar in Friday's trade.

Meanwhile, the benchmark BSE Sensex rose by 265.47 points, or 0.97 per cent, at 27,507.25 in early trade on Monday.