Rupee down 16 paise to Rs 52.88/dollar

Weighed down by dollar's gains overseas, the domestic unit declines for fourth day in a row

The rupee declined for fourth day in a row by losing 16 paise to Rs 52.88 per dollar in early trade today, weighed down by dollar's gains overseas.

Forex dealers said weakness in Asian currencies against the US dollar and demand for the greenback from importers put pressure on the rupee.

Meanwhile, the BSE benchmark Sensex fell by 127.22 points, or 0.68%, to 18,666.14.

The domestic unit had ended down by 8 paise at Rs 52.72 per dollar in the previous session on heavy dollar demand from importers.