The rupee trimmed its early losses but was still trading weak by 8 paise at 62.64 against the dollar at 1.52 p.m. local time.
The rupee fell 24 paise to 62.80 against the US currency in early trade at the Interbank Foreign Exchange market today, weighed down by the dollar’s gains against other currencies overseas.
Forex dealers said besides the dollar’s gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market also put pressure on the rupee.
The domestic currency had gained 12 paise to close at 62.56 against the US dollar in yesterday’s trade on fag-end sales of the US currency.
Meanwhile, the benchmark BSE Sensex dipped below 20,000 level for the first time this year by falling 232.88 points or 1.15 per cent to 19,976.38 in the opening trade today.
