Rupee sheds 20 paise to 55.41/dollar

Increased demand for dollar from oil importers & weak dollar against other currencies overseas capped rupee's losses

The rupee depreciated by 20 paise to 55.41 against the dollar in early trade today on fresh demand for the American currency.

Forex dealer said increased demand for the dollar from oil importers mainly put pressure on the local unit, however, higher opening in the equity market and weak dollar against other currencies overseas capped rupee's losses.

Meanwhile, the BSE benchmark Sensex rose by 42.56, or 0.24%, to 18.024.86.

The rupee had gained 13 paise to 55.21 on persistent selling of dollars by banks in yesterday's trade.