Rupee falls 19 paise against dollar in early trade

The rupee depreciated by 19 paise to trade at almost seven-month low of 61.94 against the US currency in early trade on Wednesday at the Interbank Foreign Exchange on capital outflows amidst the dollar’s gain against other currencies overseas.

Forex dealers said besides the dollar’s gains against other currencies overseas on the back of upbeat US data, increased demand for the American unit from importers and a weak opening in the domestic equity market, put pressure on the rupee.

The domestic currency had lost 22 paise to end at 61.75 against the US dollar in Tuesday’s trade as month-end demand for the American currency from oil importers weighed on the local unit.

Meanwhile, the benchmark BSE Sensex fell 16.29 points, or 0.06 per cent, to 26,614.22 in early trade.