The rupee fell marginally by two paise to 63.12 against the dollar in early trade today at the Interbank Foreign Exchange market on increased demand for the greenback from importers ahead of the RBI’s policy review.
The rupee had lost 44 paise to close at 10-week low of 63.10 against the dollar in yesterday’s trade amid fears that further stimulus tapering by the US Federal Reserve will hit capital inflows.
Forex dealers said besides increased dollar demand from importers ahead of the RBI policy review, weakness in other currencies overseas against the American unit put pressure on the rupee, but a higher opening of the domestic equity market capped the fall.
Meanwhile, the benchmark BSE Sensex recovered by 53.76 points, or 0.25 per cent, to 20,761.21 in early trade. IANS