Rupee down 14 paise against dollar in morning trade

The rupee fell by 14 paise to 63.49 a dollar in early trade on Friday at the Interbank Foreign Exchange market as the U.S. currency strengthened overseas.

Dealers said besides dollar’s gains against other currencies overseas, increased demand for the American unit from importers also put pressure on the rupee.

Domestic equity markets opening with early gains, however, capped the losses, they said.

Yesterday, the rupee suffered the worst single-day drop in over two weeks by falling 32 paise to end at 63.35 against the US dollar.

Meanwhile, the benchmark BSE Sensex was trading higher by 216.11 points, or 0.79 per cent, at 27,723.65.