Indian rupee down 14 paise against US dollar in early trade

Written by PTI | Mumbai | Updated: Apr 3 2013, 15:47pm hrs
US dollarUS dollar, Indian Rupee likely up, Asian stocks, FX lower
India rupee today lost 14 paise to 54.40 against the dollar in early trade on the Interbank Foreign Exchange due to strengthening of the US currency overseas.

Dealers attributed the rupee's fall to dollar gains against the euro and yen overseas boosted by solid US economic data and a bleak outlook for the troubled euro-zone.

Besides, a lower opening in the stock market also put pressure on the rupee, they said.

The rupee had gained three paise to close at 54.26 yesterday in line with strong local equities amid some dollar selling by exporters.

Meanwhile, the BSE benchmark Sensex fell by 66.26 points, or 0.34 per cent, at 18,974.69 in early trade today.