Rupee weakens by 5 paise against dollar in early trade

The rupee fell by 5 paise to 62.36 per dollar in morning trade on Tuesday at the Interbank Foreign Exchange market on increased demand for the US currency from oil importers.

Forex dealers said besides dollar's gains overseas, increased demand from oil importers for the American currency mainly influenced the rupee, but a higher opening in the stock market capped the losses.

The rupee had lost 15 paise to close at a five-week low of 62.31 against the dollar in Monday's trade.

Meanwhile, the benchmark BSE Sensex recovered by 75.73 points, or 0.36%, to 20,863.03.