Rupee tumbles in early trade

The rupee lost 35 paise to 53.76 against the dollar in early trade on Friday at the Interbank Foreign Exchange on increased demand for the American currency from oil importers.

Besides, a lower opening in the stock market and dollar’s gains against other currencies in overseas markets also put pressure on the local unit, forex dealers said.

Meanwhile, the BSE benchmark Sensex fell by 62.38 points, or 0.33 per cent, to 18,729.55 as participants preferred to book profits after recent gains.

The rupee had tumbled by 54 paise to end at three-week low of 53.41 against the dollar in yesterday’s session on heavy dollar demand from importers amid a rise in the US currency overseas on the back of robust economic data.