The rupee lost 19 paise to 62.58 against the dollar in early trade today at the Interbank Foreign Exchange market due to higher demand of the US currency from banks and importers.

Forex dealers said a lower opening in the domestic equity market also put pressure on the rupee but dollar’s weakness against euro in the global markets, after Germany released data showing factory orders rising 3.3 per cent in September, capped the fall.

The domestic currency had plunged by 77 paise to 62.39 against the dollar yesterday on renewed fears that the US Federal Reserve would look at scaling back its stimulus soon.

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