Rupee down by 17 paise against dollar in early trade

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The rupee fell by 17 paise to Rs 53.27 per dollar in early trade on the Interbank Foreign Exchange today on increased demand for the US currency from importers.

However, firm equity markets capped the rupee losses.

Dealers said increased demand for the dollar from importers and concerns over the government's widening fiscal deficit mainly weighed on the rupee sentiment.

The rupee had shed 3 paise to close at Rs 53.10/11 against the US dollar in the previous session.

In 2011, the rupee crashed by 18.79 per cent.

The BSE benchmark Sensex recovered by 69.12 points, or 0.45 per cent, to 15,524.04 in opening trade on Monday.