Rupee down 57 paise against US dollar

Mumbai: The Indian rupee fell by 57 paise to Rs 49.53 against the US dollar in early trade today amid steep depreciation of the euro on heightened concerns over the European debt crisis.

Dealers said a slide in the euro value against the US dollar and lower opening in the equity market put pressure on the rupee sentiment.

The rupee had lost 21 paise to Rs 48.96/97 against the US currency on Thursday on fresh month-end dollar demand from importers. The forex market was closed on Friday on account of half-yearly closing of banks` accounts.

Meanwhile, the BSE benchmark Sensex plummeted by 262.16 points, or 1.59 per cent, to 16,191.60 in opening trade today.