Rupee loses value by 8 paise against dollar in early trade
Yesterday, the rupee had shed 21 paise to close at 63.72 against the US currency due to fresh dollar demand from banks and importers in view of a firm dollar in the overseas market.
Extending losses for the second day, the rupee weakened by 8 paise to 63.80 against the US dollar in early trade today due to appreciation of the American unit against other currencies overseas.
Besides increased demand for the dollar from importers, a lower opening in the domestic equity market weighed on the local currency, forex dealers said.
Yesterday, the rupee had shed 21 paise to close at 63.72 against the US currency due to fresh dollar demand from banks and importers in view of a firm dollar in the overseas market.
Meanwhile, the benchmark BSE Sensex fell by 75.33 points or 0.27% at 27,611.97 in early trade.