Rupee down 17 paise against dollar on sustained demand

Rupee weakened by 17 paise to 66.79 against the US dollar in early trade at the Interbank Foreign Exchange market on sustained demand for the American currency from banks and importers amid lower domestic equities.

Weakness of dollar against other currencies overseas as well as persistent foreign capital inflows restricted the rupee’s loss, forex dealers said.

Yesterday, the rupee had lost 14 paise to close at 66.62 against the US dollar on persistent demand for the American unit from banks and importers amid lower domestic equities.

Meanwhile, the benchmark BSE Sensex was quoting lower by 129.88 points, or 0.50 per cent, to 25,549.05 in early trade day.