Rupee falls 8 paise against dollar in early trade

The rupee declined by eight paise to 61.63 against the U.S. dollar in early trade.

The rupee declined by eight paise to 61.63 against the U.S. dollar in early trade on Friday at the Interbank Foreign Exchange on fresh demand for the American currency from banks and importers.

Forex dealers said besides the dollar gaining against other currencies in the global markets on the back of a strong U.S. economy, increased demand for the American unit from importers weighed on the rupee but a higher opening in the domestic equity markets, capped the fall.

The rupee had finished lower by four paise at 61.55 against the American unit in Thursday’s trade on renewed dollar demand from banks and importers. Meanwhile, the benchmark BSE Sensex rose by 48.37 points, or 0.17 per cent, to 27,989.01 in early trade on Friday.