Rupee down 11 paise against dollar in early trade

Mumbai, Jul 15: The rupee fell by another 11 paise to trade at 60.187 against the dollar in early trade today at the Interbank Foreign Exchange market due to renewed demand for the American currency from importers and appreciation of the greenback overseas.

Forex dealers said besides dollar’s gains against other currencies overseas, increased demand from oil importers for the US currency put pressure on the rupee. They said, however, easing inflation and a higher opening in the domestic equity market limited the rupee fall.

The rupee fell by 14 paise to close at 60.07 against the US currency in the previous session on fresh dollar demand from banks and importers, amid weak local equities. Meanwhile, the benchmark BSE Sensex rebounded by 188.70 points, or 0.75 per cent, to 25,195.68 in early trade today.