Rupee falls by 8 paise in early trade

The Indian rupee skidded by 8 paise against the dollar in early trade due to the month-end dollar demand from importers.

The Indian rupee on Tuesday skidded by 8 paise against the dollar in early trade due to the month-end dollar demand from importers.

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At the Interbank Foreign Exchange (forex) market, the domestic currency was quoted at 48.24 a dollar, a fall of 8 paise over the previous close. Yesterday, the rupee gained 6 paise to close at 48.16/17.

Dealers said the rupee fell due to the month-end demand from importers and refiners.

The dollar's mixed trend against other Asian currencies and expectations that the stock market may open in negative zone also put pressure on the Indian rupee, they added.