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Rupee down 7 paise against dollar in early trade


Mumbai, May 12 (PTI) The rupee was trading lower by 7 paise at 66.63 against the US dollar in early trade today on foreign fund outflows amid increased demand for the American currency from importers.

However, a weak dollar against major global currencies and a higher opening of the domestic equity market, capped the losses, forex dealers said.

The domestic unit closed higher by 11 paise at 66.56 in yesterday’s trade on fag-end selling of the American currency by banks and exporters on the back of lower greenback overseas.

Meanwhile, the benchmark BSE Sensex recovered by 125.60 points or 0.49 per cent to 25,722.62 in early deals.

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