Rupee down by 7 paise against US dollar in trade

Mumbai: The Indian rupee, which touched a 10-week high in the previous session, fell by 7 paise to Rs 44.39 against the US dollar in early trade on the Interbank Foreign Exchange on Monday, pressured by weakness of the euro and other currencies against the American currency overseas.

A lower start in the stock market also put pressure on the rupee.

Forex dealers said dollar strength against the euro and other currencies overseas and losses in the stock market in early trade today mainly put pressure on the rupee.

The rupee gained 10 paise to close at a 10-week high of Rs 44.32/44.33 against the US currency on Friday on sustained dollar selling.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 89.57 points, or 0.47 per cent, to 18,768.47 in opening trade.