The rupee declined by 32 paise to Rs. 51.62 against the American currency on the Interbank Foreign Exchange in early trade on Monday, weighed down by dollar’s gains against other currencies overseas.
Forex dealers said besides dollar’s gains against other Asian currencies in overseas markets, a lower opening in the stock market on fresh outflow of foreign funds also put pressure on the local unit.
The rupee had rose by 28 paise to 51.30/31 against the American currency on Friday’s trade on fresh dollar selling by exporters.
Meanwhile, the BSE benchmark Sensex declined by 67.19 points, or 0.39 per cent, at 17,027.32 in early trade.