Rupee down 16 paise vs US dollar in early trade

Mumbai: The rupee fell by 16 paise to 65.43 against the dollar in early trade today on sustained foreign fund outflows amid increased demand for the US currency from importers.

Besides, early losses in domestic equities also weighed on the rupee, dealers said. The dollar was weak against major world currencies which capped rupee losses, they added. The rupee had gained four paise to close at 65.27 per dollar on Friday on fresh selling of the American currency by banks and exporters on the back of lower greenback overseas. Meanwhile, the benchmark BSE Sensex was trading lower by 80.56 points, or 0.30 per cent, to 26,576.27 in early deals.

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