Rupee down 17 paise against US dollar in early trade

The rupee today lost 17 paise to 59.84 against the dollar in early trade at Interbank Foreign Exchange market due to increased demand for the US currency from importers.

Forex dealers attributed rupee8217;s fall to sustained dollar demand from importers but said that a higher opening in the domestic equity market and euro8217;s strength against the US currency in global markets capped the fall to some extent.

The rupee had closed 33 paise lower at 59.67 per dollar in yesterday8217;s trade on US Federal Reserve8217;s comment on tapering monetary stimulus by this year-end strengthened the dollar.

Meanwhile,the BSE benchmark Sensex rose by 102.20 points,or 0.50 per cent,to 20,230.61 in early trade today.