Rupee plunges 32 paise against dollar in early trade

Dollar strengthening against other currencies affected the rupee

The rupee turned weak in early trade today and fell by 32 paise to 66.73 against the US currency at the Interbank Foreign Exchange on foreign fund outflows amid appreciation in the US currency overseas.

Forex dealers said besides dollar strengthening against other currencies, fresh demand for the American unit from importers and a lower opening in the domestic equity market put pressure on the rupee.

The rupee had strengthened by 14 paise to close at 66.41 against the US dollar in yesterday's trade on persistent selling from banks and exporters.

Meanwhile, the benchmark BSE Sensex sank 402.98 points or 1.57% to 25,316.60 in early trade.