Rupee softens 13 paise against dollar in early trade

May 16, 2016 09:40

The rupee weakened by 13 paise to 66.90 against the US dollar in early trade today due to continued demand for the American currency from banks and importers.

Moreover, the US dollar's gain against other currencies overseas put pressure on the rupee, forex dealers said.

However, a higher opening of the domestic equity market, capped the rupee's losses, they added.

The rupee had lost 15 paise to close at 66.77 per dollar at the Interbank Foreign Exchange market on Friday due to higher greenback overseas amid sharp fall in domestic equities.

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