Rupee down 18 paise against dollar in early trade

The rupee today lost 18 paise to 59.85 against the dollar in early trade on the Interbank Foreign Exchange due to appreciation of the US currency against the euro and yen overseas.

Forex dealers said increased demand for the dollar from importers also put pressure on the rupee.

The rupee had closed two paise lower at 59.67 a dollar in yesterday's trade on fresh demand for the American currency. Meanwhile, the BSE benchmark Sensex rallied by 228.78 points, or 1.16 per cent, at 19,904.84 in early trade today