Rupee down 7 paise against US dollar in early trade

Mumbai: The Indian rupee turned weak by 7 paise to Rs 44.76 against the US dollar in early trade on the Interbank Foreign Exchange on Thursday, weighed down by dollar gains against the euro and other currencies overseas and a subdued trend in the equity market.

Forex dealers said the strengthening of the dollar against major currencies overseas and a lower opening in the stock market mainly put pressure on the rupee.

The rupee ended 5 paise higher at Rs 44.69/70 against the US currency in yesterday`s trade on fresh selling of dollars by banks on weak global cues

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 125.98 points, or 0.67 per cent, to 18,458.98 in opening trade today.