Rupee falls 22 paise against dollar due to weak opening in local equity market

The rupee dropped 22 paise to 61.29 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh demand for the American currency from importers.

The rupee had gained 4 paise to close at a new three-month high of 61.07 against the US dollar on Friday helped by heavy capital inflows.

Forex dealers said a weak opening in the domestic equity market also weighed on the rupee, but the dollar's weakness against the euro limited the fall of the local currency.

Meanwhile, the benchmark BSE Sensex fell by 47.30 points, or 0.22 per cent, to 21,872.49 in early trade today.