The Indian rupee lost 12 paise to Rs 48.88 per US dollar in early trade on the Interbank Foreign Exchange today amid appreciation of the US currency against other major rivals overseas and a lower opening in the domestic equity market.
Dealers attributed the rupee's fall to dollar gains against the euro and Asian currencies overseas and a lower opening in the stock market.
The rupee posted its biggest jump in the last 17 months by gaining 74 paise to close at a one-month high of Rs 48.76/77 in the previous session on Friday on fresh capital inflows and dollar-selling by some banks and exporters.
Meanwhile, the Bombay Stock Exchange benchmark Sensex was down by 68.65 points, or 0.39%, at 17,736.15 in opening trade today.
