Re weakens 18 paise against $ in early trade

The Indian rupee quoted low by 18 paise against the $ in early trade today following weak Asian currencies and selling of the $ by banks.

At the Interbank Foreign Exchange (Forex) market, the local unit, fell 18 paise to 47.29 against the $.

The rupee had closed up nine paise at 47.11/12 in Friday's deals.

Foreign dealers said besides banks selling dollars, Asian currencies trading weak against the greenback in the overseas markets was a reason for the rupee to fall.