Rupee down 16 paise against US dollar in early trade

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Mumbai: The Indian rupee on Wednesday down by 16 paise to Rs 63.79 against the US dollar in near the beginning trade as the greenback firmed abroad amid a lower commencing in the domestic equity market.

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Forex dealers further stated that apart from the dollar’s gains against some other currencies abroad, a lower commencing in the domestic equity markets weighed on the rupee.

The rupee on Tuesday, staged to close 17 paise superior at Rs 63.63. For now, the benchmark BSE Sensex was trading downward by 158.30 points or 0.49 per cent to 31,855.89 in near the beginning trade today.

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