The Indian rupee fell by 16 paise to Rs 49.59 per US dollar in early trade on the Interbank Foreign Exchange today due to appreciation of the US currency against other major rivals overseas and a weak trend in the domestic equity market.
Dealers attributed the rupee's fall to dollar gains against the euro overseas and a lower opening in the stock market.
The rupee had strengthened by 14 paise to close at Rs 49.43/44 against the US currency in the previous session on Friday.
Meanwhile, the Bombay Stock Exchange benchmark Sensex was up by 110.56 points, or 0.68%, at 16,051.50 in opening trade today.
