Rupee falls 21 paise at 4-month low against US dollar in early trade

Sustained demand for the dollar from importers mainly weighed on the local currency

<a href="http://www.shutterstock.com/pic-95113372/stock-photo-a-pile-of-notes-and-coins-in-indian-currency.html" target="_blank">Currency</a> image via Shutterstock
Press Trust of India Mumbai
Last Updated : Apr 27 2015 | 10:04 AM IST
Extending losses for the third consecutive day, the rupee shed 21 paise to hit a four-month low of 63.77 against the US dollar in early trade today at the Interbank Foreign Exchange due to continued demand for the American currency from importers.

Forex dealers said sustained demand for the dollar from importers mainly weighed on the local currency but a higher opening in the domestic equity market and easing dollar against other currencies overseas, limited the rupee's losses.

The rupee had lost 24 paise to close at a fresh three-and-half month low of 63.56 against the US dollar in the previous session on Friday.

Meanwhile, the benchmark BSE Sensex rose by 129.34 points, or 0.47%, at 27,567.28 in early trade.

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First Published: Apr 27 2015 | 9:48 AM IST

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