Rupee down 28 paise against dollar in early trade

The Indian rupee fell by 28 paise to Rs. 45.62 against the US dollar in early trade at the Interbank Foreign Exchange today, weighed down by the dollar’s gains against other major Asian currencies and a weak trend in the stock market.

Forex dealers said in addition to the gains made by the dollar against other Asian currencies, a lower opening in the stock market also put pressure on the Indian rupee.

The rupee had ended 6 paise higher at Rs. 45.34/35 against the US dollar in the previous session on Thursday on late dollar—selling by exporters. Forex markets remained closed on Friday on account of Muharram.

Meanwhile, the Bombay Stock Exchange benchmark Sensex shed 99.99 points to 19,764.86 in opening trade today.