The rupee today weakened by 13 paise to trade at 58.76 in early trade at the Interbank Foreign Exchange market due to increased dollar demand from importers.
A lower opening at the domestic equity market due to profit-booking, and dollar's gain against euro overseas also put pressure on the rupee, traders said.
The rupee had retreated four paise from its 11-month high levels to close at 58.63 against the dollar yesterday on fresh demand for the US currency from importers, amid some profit- booking in stocks.
Meanwhile, the BSE benchmark Sensex fell by 46.88 points, or 0.19 per cent, at 24,330.00.
Published 21 May 2014, 04:40 IST