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 economic growth in FY14.
India’s economic growth remained subdued at 4.7 per cent in FY14 and at 4.6 per cent 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 per cent, to 24,308.40 in early trade today.
