Mumbai: The rupee weakened by 23 paise to 60.83 against the US currency in early trade Wednesday at the Interbank Foreign Exchange market due to dollar's gains against other currencies overseas.
Forex dealers said besides strengthening of dollar, increased demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
The domestic currency had lost 31 paise, its biggest daily loss in over a month, to close at 60.60 against the US dollar in yesterday's trade on concerns US interest rates may rise sooner than investors had anticipated.
Meanwhile, the benchmark BSE Sensex fell 130.78 points, or 0.48 per cent, to 27,134.54 in early trade today.
Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.
