Mumbai: The rupee was trading lower by 9 paise at 64.24 against the US dollar in early trade today at the forex market on increased demand for the American currency from importers.
Besides, a strengthening dollar against other currencies overseas also put pressure on the domestic unit. With the US Federal Reserve signalling it was on track to gradually lift rates, the dollar sentiment got a boost, forex dealers said.
They said, however, a higher opening in the domestic equity market restricted the rupee’s losses.
Yesterday, the rupee had gained 6 paise to close at 64.15 against the US currency on sustained dollar unwinding by exporters and banks, extending its gains for a second session.
Meanwhile, the benchmark BSE Sensex rose 189.14 points, or 0.63 per cent, to 30,083.94 in early trade today.