Rupee downslide continues, falls 11 paise in early trade

Continuing its slide for the third straight day, the rupee depreciated further by 11 paise to 67.59 against the US dollar in early trade today on sustained demand for the American currency from importers and banks.

Dealers attributed the rupee’s fall to persistent demand for the US currency, but dollar’s weakness against euro and other currencies overseas and a higher opening in the domestic equity market restricted the loss.

The domestic unit closed lower by 17 paise at 67.48 in yesterday’s trade on persistent dollar demand from banks and importers amidst weakness in equities.

Meanwhile, the benchmark BSE Sensex recovered 30.41 points, or 0.11 per cent, to 26,843.19 in early deals.