Rupee down 20 paise against dollar in early trade

Mumbai, Mar 1: The rupee on Thursday depreciated by 20 paise to 49.21 against the US dollar in early trade on the Interbank Foreign Exchange market, due to fresh demand from importers for the American currency amid strong global cues.

Forex dealers said weakness in euro and other Asian currencies against the dollar overseas also weighed on the rupee's value. Weak opening in the equity market and fresh demand for the US currency from importers, put pressure on the rupee, they added.

Meanwhile, the BSE benchmark Sensex fell by 184.83 points, or 1.04 per cent, at 17,567.85 in early trade. The rupee had gained six paise to close at 49.01/02 per dollar in yesterday's session.

PTI