Rupee down 16 paise against dollar in early trade

The rupee fell by 16 paise to 61.91 against the dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the US currency overseas.

Forex dealers attributed the domestic currency's fall to the dollar's gains against other global currencies and a lower opening in the domestic equity market.

The rupee had closed down by eight paise at 61.75 per dollar yesterday on fresh demand for the US currency from banks amid fall in stock markets.

Meanwhile, the benchmark BSE Sensex was down by 58.23 points, or 0.20 per cent, at 28,824.88 in early trade today.