Rupee down 5 paise against dollar in early trade

Mumbai, Apr 16: The rupee lost five paise to 60.28 against the US dollar in early trade today at the Interbank Foreign Exchange market due to appreciation of the American currency against other Asian currencies overseas.

Sustained demand for the dollar from importers also weighed on the rupee, forex dealers said.

However, the euro’s gain against the dollar and a higher opening of the domestic equity market, caped the rupee’s losses, they added.

The rupee had lost six paise to close at a two-week low of 60.23 against the dollar in yesterday’s trade.

Meanwhile, the benchmark BSE Sensex was up by 28.31 points, or 0.12 per cent, at 22,513.24 in early trade today.