Rupee down 7 paise against dollar in early trade

TIL Desk/Business/Mumbai-The rupee weakened by 7 paise to 66.73 against the dollar in early trade today at the Interbank Foreign Exchange market on fresh demand for the American currency from importers.

Forex dealers said the strength in dollar against some other currencies overseas and a lower opening in the domestic equity market weighed on the rupee.

The rupee had soared by 36 paise, its biggest single-day gain in four months, to close at a two-week high of 66.66 a dollar in yesterday’s trade on easing worries of foreign fund outflows and narrowing of the country’s current account deficit (CAD). The benchmark BSE Sensex fell by 58.20 points, or 0.20 per cent, to 28,714.93 in early trade today.