Rupee down 12 paise to 62.79 against dollar in early trade

Mumbai: The rupee declined by 12 paise to 62.79 against the dollar in early trade on Friday at the Interbank Foreign Exchange market due to appreciation of the US currency overseas.

Forex dealers said month-end demand for the American unit from importers also weighed on the local currency but a higher opening in the domestic equity market capped the rupee's losses.

The rupee had lost 34 paise, its worst drop in two weeks, to close at 62.67 against the US dollar in yesterday's trade.

Meanwhile, the benchmark BSE Sensex recovered by 236.83 points, or 0.86 percent, at 27,694.41 in early trade today.