Rupee down 16 paise Vs US dollar in early trade
Forex dealers said besides dollar's gains against euro and yen overseas, increased demand from oil importers for the American currency and a weak opening in the stock market also put pressure on the rupee.
The rupee fell by a whopping 53 paise to close at nearly two-month low of 54.89 against the US dollar in the previous session on Friday.
Meanwhile, the BSE benchmark Sensex fell by 59.46 points, or 0.31 per cent, to 18,859.46 in early trade today.
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