The rupee on Tuesday lost 28 paise to 58.99 against the dollar in early trade, extending weakness for the third day, on the Interbank Foreign Exchange (Forex) market due to month-end demand of the U.S. currency from importers.
Forex dealers said dollar strengthening against other Asian currencies in the global market and a lower opening of the domestic equity market also weighed on the rupee.
The domestic currency had closed lower by 19 paise at 58.71 on Monday amid demand for the American currency from oil importers and late profit-booking in equities.
Meanwhile, the BSE benchmark Sensex fell by 160.88 points, or 0.65 per cent, at 24,556.00 in early trade on Tuesday.
