Rupee falls 14 paise to 61.88 against dollar in early trade

Mumbai: Continuing its losing streak for the fifth straight session, the rupee weakened by another 14 paise to 61.88 in early trade today at the Interbank Foreign Exchange on increased dollar demand from banks and importers.

Forex dealers said increased demand for the American unit from importers mainly weighed on the rupee but surging domestic equity markets and the euro's gain against the dollar, capped the fall.

The rupee had shed one paise to end at one-month low of 61.74 against the US dollar in yesterday's trade.

Meanwhile, the benchmark BSE Sensex opened higher by 130.72 points, or 0.46 per cent, to hit another record-high of 28,294.01 in opening trade today.