Rupee down 17 paise against dollar in early trade

The rupee on Friday lost 17 paise to 59.84 against the dollar in early trade at Interbank Foreign Exchange market due to increased demand for the US currency from importers.

The rupee on Friday lost 17 paise to 59.84 against the dollar in early trade at Interbank Foreign Exchange market due to increased demand for the US currency from importers.

Forex dealers attributed rupee's fall to sustained dollar demand from importers but said that a higher opening in the domestic equity market and euro's strength against the US currency in global markets capped the fall to some extent.

The rupee had closed 33 paise lower at 59.67 per dollar in Thursday's trade on US Federal Reserve's comment on tapering monetary stimulus by this year-end strengthened the dollar.

Meanwhile, the BSE benchmark Sensex rose by 102.20 points, or 0.50 per cent, to 20,230.61 in early trade on Friday.