Rupee down 28 paise against dollar

The rupee fell against the dollar for the fifth consecutive day, slipping another 28 paise to 63.52 in early trade amid demand for the US currency even as capital flows continued into domestic stocks.

The rupee opened at 63.35 per dollar against the previous close of 63.24 at the interbank foreign exchange market and dropped further to 63.52.

In New York, the euro strengthened against the dollar on Monday amid concerns in the market about the impact of the European Central Bank’s rate cut last week. The dollar gained against other major rivals.

The benchmark, 30-share Sensex moved up 11 points to 20,501.49 at 1040hrs.