Rupee down 30 paise at 54.66/dollar in early trade

Appreciation of dollar against other currencies overseas affects rupee

The rupee today lost 30 paise to Rs 54.66 against the US dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against other currencies overseas.

Increased demand for the dollar from banks and importers also put pressure on the rupee.

Dealers attributed the rupee's fall to dollar gains against the euro overseas but a higher opening in the stock market, capped the fall.

The rupee had closed 50 paise lower at Rs 54.36 a dollar in yesterday's trade on heavy capital outflows as Budget failed to cheer investor sentiment.

Meanwhile, the BSE benchmark Sensex recovered by 48.24 points, or 0.26%, at 18,909.78 in early trade today.