Rupee down 24 paise against dollar

Mumbai, Oct 29: The

fell by 24 paise to 53.80 against the

in early trade today at the Interbank Foreign Exchange on month-end demand for the American currency from oil importers.

Besides, euro's weakness against the US dollar overseas on eurozone concerns also put pressure on the local unit, forex dealers said.

However, a higher opening in the stock market capped the rupee's losses, they added. Meanwhile, the BSE benchmark Sensex rose by 85.16 points, or 0.46 per cent, to 18,710.50.

The rupee had gained 16 paise to end at 53.56 against the dollar in the previous session on Thursday on the rise in local equities amid fresh selling of the American currency by exporters. The forex market remained closed on Friday on account of 'Idd-Ul-Zuha'.

PTI