Rupee down four paise vs dollar in early trade

A file picture of currency notes. Photo: K. Pichumani.

The rupee declined marginally by four paise to Rs 48.97 per dollar on the Interbank Foreign Exchange in early trade on Monday on fresh demand from importers for the American currency.

Traders said apart from dollar’s gains against other currencies overseas, weak opening in the equity market and fresh demand for the dollar from importers, mainly put pressure on the rupee.

Meanwhile, the BSE benchmark Sensex was down by 70.30 points, or 0.39 per cent, at 17,853.27 in the opening trade.

The rupee had gained 26 paise to close at three-week high of Rs 48.93/94 per dollar in the previous session on Friday.