Rupee down 19 paise against dollar in early trade

Mumbai, Jul 31: The rupee lost 19 paise to 60.25 against the US dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the US currency overseas. Forex dealers said that apart from month-end demand for the American currency from importers, dollar’s gains against other currencies overseas amid US data showing more-than-expected economic growth in the second quarter also put pressure on the local unit.

They said a lower opening in the domestic equity market also weighed on the rupee. The domestic currency had gained 7 paise to close at over two-week high of 60.06 against the dollar yesterday in line with the recovery in local equities.

Meanwhile, the benchmark BSE Sensex was down 33.59 points, or 0.13 per cent, to 26,053.83 in early trade today.