Forex dealers said a higher opening in the stock market amid foreign fund outflows put pressure on the rupee.
Rupee down 14 paise against dollar in early trade
Mumbai: The rupee declined by 14 paise to Rs 54.36 per dollar in early trade on the Interbank Foreign Exchange market on Monday. Rupee was weighed down by dollar's gains against other currency rivals.
Forex dealers said besides dollar gains against other Asian currencies, a higher opening in the stock market amid foreign fund outflows put pressure on the rupee.
The rupee had lost 30 paise to 54.22 against the US dollar in Friday trade due to renewed dollar demand and firm global cues. Meanwhile, the BSE benchmark Sensex higher by 32.80 points, or 0.16 per cent, to 19,500.95.
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