Rupee down 8 paise against US dollar

Mumbai: The Indian rupee lost 8 paise to Rs 44.75 per US dollar in early trade on the Interbank Foreign Exchange on Wednesday, weighed down by dollar gains against the euro and other currencies overseas.

A lower opening in the stock market and dollar demand from importers also put some pressure on the rupee.

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

The rupee rose by 9 paise to close at Rs 44.67/68 against the US dollar in yesterday`s trade amid selling of dollars by banks and exporters.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 95.18 points, or 0.51 per cent, to 18,400.44 in opening trade today.