Rupee declines by 9 paise at 59.44/dollar

Increased demand for dollar from importers caused the decline

The rupee today fell by nine paise to 59.44 against the dollar in early trade at the Interbank Foreign Exchange market on increased demand for the US currency from importers amid a weak opening in local equities.

 

Forex dealers said besides increased demand for dollar from importers, a weak opening in the domestic equity market, mainly put pressure on the domestic currency.

 

The rupee had gained 32 paise to close at 59.35 against the dollar on Friday's trade.

 

Meanwhile, the BSE benchmark Sensex declined by 19.89 points, or 0.10%, to Rs 20,129.96 in early trade today.