Rupee down 40 paise against dollar in early trade

The rupee today fell by 40 paise to 59.96 in early trade on the Interbank Foreign Exchange market, weighed down by dollar's gains against other currencies in global markets.
Forex dealers said besides dollar gains against other currencies overseas, disappointing industrial production and a fall in exports, a higher retail inflation data and a lower opening in the domestic equity market put pressure on the rupee.
The rupee had gained 11 paise to close at two-week high of 59.56 against the US dollar in Friday on fag-end sales of the American currency by exporters amid a strong rally in local equities.

Meanwhile, the BSE benchmark Sensex fell by 54 points, or 0.27 per cent, to 19,904.47 in early trade today.