Rupee down 12 paise against dollar in early trade

The rupee fell by 12 paise to 61.86 in early trade at the Interbank Foreign Exchange (Forex) market on Tuesday on fresh dollar demand from banks and importers amid strengthening of the US currency overseas.

Forex dealers said besides dollar gaining against other currencies in the global markets, increased demand for the American currency from importers and lower opening in the domestic equity market influenced the rupee.

The rupee had lost 24 paise to close at more than two-week low of 61.74 against the dollar in the previous session on Friday’s trade.

The Forex and money markets were closed on Monday on account of Diwali-Balipratipada.

Meanwhile, the BSE benchmark Sensex fell by 104.89 points, or 0.49 per cent, to 21,134.47 in early trade today.