Rupee down 29 paise against dollar in early trade

[1]

The rupee on Tuesday lost 29 paise to 52.79 against the US dollar in early trade on the Interbank Foreign Exchange market, due to increased demand for the American currency from importers.

Forex dealers said weakness in euro against the dollar and other Asian currencies overseas also weighed on the rupee's value.

The domestic unit had lost a hefty 42 paise to close at three-and-a-half-month low of 52.50/51 against the US currency on Monday, owing to strong dollar demand from banks and importers amid a sharp fall in equity markets.

Meanwhile, the BSE benchmark index Sensex today rose by 70.34 points, or 0.41 per cent, to 17,167.02 in early trade.