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Rupee falls 15 paise against dollar in early trade

Monday, 2 June 2014 - 9:42am IST | Place: Mumbai | Agency: PTI

The rupee weakened by 15 paise to 59.26 against the US dollar in early trade on Monday at the Interbank Foreign Exchange market due to appreciation of the American unit against other currencies overseas amid the country's subdued subdued economic growth in FY'14.

India's economic growth remained subdued at 4.7% in FY'14 and at 4.6% in the fourth quarter of 2013-14 which weighed on the rupee, forex dealers said. However, a higher opening in the domestic equity market capped the fall, they added.

The rupee had lost eight paise to close at 59.11 against the US dollar in its previous trading session on Friday on month-end demand of the US currency from importers.

Meanwhile, the benchmark BSE Sensex rose 91.06 points, or 0.38%, to 24,308.40 in early trade on Monday. 

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