Rupee loses 4 paise in early trade

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The rupee has lost 4 paise in trade and was last trading at Rs 55.67 to the dollar. The rupee last week lost heavy ground on a sharp drop in equities and also on dollar strength across a basket of currencies.

Dealers believe that the rupee could remain rangebound. Forex dealers said the dollar strengthening against the euro in the global market also put pressure on the rupee but the yen's gain and a higher opening in the domestic equity market limited the rupee's fall. The domestic currency had closed lower by four paise at fresh six-month low of 55.63 against the dollar in the previous session on Friday.

Meanwhile, the BSE Sensex rose 140 points in early trade today.

With inputs from PTI

Read more about: currency
Story first published: Monday, May 27, 2013, 10:22 [IST]
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