Mumbai, Sep 29 : The Indian rupee fell by 16 paise to Rs 48.91 per US dollar in early trade on the Interbank Foreign Exchange today amid a lower opening in the domestic stock market and appreciation of the American currency against the euro overseas.
Forex dealers attributed the rupee's fall to dollar gains against the euro overseas and a weak opening in the stock market.In addition, month-end demand for the American currency from importers also weighed on the rupee, they said.
The rupee had appreciated by 32 paise to close at Rs 48.75/76 against the US currency in the previous session on dollar-selling by exporters and some corporates.
Meanwhile, the Bombay Stock Exchange benchmark Sensex was down by 105.18 points, or 0.64 per cent, at 16,340.84 in opening trade today. PTI
