Rupee down by 14 paise against US dollar in early trade

Mumbai, Dec 12: The Indian rupee fell by 14 paise to Rs 52.17 per US dollar in early trade today (Dec 12), extending its slide for the fifth straight day as the dollar gained against other rivals overseas amid increased demand for the American currency from importers.

However, a higher opening in the equity market capped the rupee's losses. Dealers said increased dollar demand from importers and dollar gains against other currencies overseas mainly weighed on the rupee sentiment, but a higher opening in the equity market restricted the losses.

The rupee had lost 28 paise to close at Rs 52.03/04 per US dollar in the previous session on Friday on sustained dollar demand from importers and some corporates amid weakness in the equity market. The BSE benchmark Sensex rose by 146.86 points, or 0.90 per cent, to 16,360.32 in opening trade today.

PTI