Mumbai: Extending losses for the fourth straight session, the rupee fell by 17 paise to 62.42 against the dollar in early trade today at the Interbank Foreign Exchange market as the American currency strengthened overseas amid persistent foreign capital outflows. Forex dealers said besides the dollar's gain against other currencies overseas, increased demand for the American unit from importers put pressure on the rupee but a higher opening in the domestic equity markets, capped the losses.
The rupee had declined by six paise to close at a fresh one-month low of 62.25 in yesterday's trade on persistent dollar demand from banks and importers. Meanwhile, the benchmark BSE Sensex was trading higher by 151.91 points, or 0.53 per cent, to 28,685.88 in early trade.
