Rupee trades at a fresh seven-month low of 61.62 Vs dollar

Mumbai: The rupee weakened by nine paise to trade at a fresh seven-month low of 61.62 against the dollar in early trade at the Interbank Foreign Exchange market today following increased demand for the US currency from importers ahead of RBI's policy review.

A lower opening at the domestic equity market and the dollar's rise against other major currencies overseas also put pressure on the rupee, dealers said.

Yesterday, the rupee had tanked 38 paise to log nearly 7-month closing low of 61.53 against the Greenback following dollar demand from importers and some weakness in stocks ahead of the RBI policy review.

Meanwhile, the benchmark BSE Sensex fell 30.38 points, or 0.11 per cent, to 26,566.73 in early trade.