Rupee down 5 paise against dollar in early trade

Mumbai: The rupee declined by 5 paise to 61.93 against the US dollar in early trade at the Interbank Foreign Exchange on fresh demand for the American currency from banks and importers.

Forex dealers said apart from the gain in the dollar against other currencies in the global markets on impressive US data, fresh demand for the American unit from importers weighed on the rupee but a higher opening of the domestic equity markets, capped the fall.

The rupee had gained 14 paise to close at 61.88 against the dollar in Tuesday's trade on selling of the US currency by exporters and banks even as stock markets fell.

Meanwhile, the benchmark BSE Sensex recovered by 60.64 points, or 0.21 per cent, to 28,504.65 in early trade on Wednesday.