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Rupee loses 14 paise

Mumbai: The Indian rupee fell by 14 paise to Rs 47.78 per US dollar in early trade Thursday, extending its losses for the ninth straight session on strong demand for the American currency from importers and some banks.

However, a higher opening in the equity market capped the losses.

Forex dealers said sustained dollar demand from importers and banks mainly put pressure on the rupee, but a higher opening in the stock market limited the losses.

The rupee had ended 5 paise lower at Rs 47.64/65 against the American currency in the previous session on increased dollar buying by importers and banks.

Meanwhile, the Bombay Stock Exchange benchmark Sensex rose by 134.38 points, or 0.80 per cent, to 16,843.98 in opening trade Thursday.

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