Mumbai: The rupee declined by 13 paise to Rs 53.60 per dollar on the Interbank Foreign Exchange in early trade today following a weak opening in equities.
Besides dollar’s gains against the euro and other currencies overseas on fresh concerns over defeat of ruling parties in France and Greece elections, a weak opening in the equity market put pressure on the domestic currency, traders
However, they said some measures announced by the RBI late on Friday to attract inflows in view of falling rupee, restricted the losses.
The RBI raised the interest rate ceiling on NRI deposits in foreign currencies by up to 3 per cent and deregulated interest rates on export finance.
Meanwhile, the BSE benchmark Sensex lost 289.85 points, or 1.72 percent, at 16,541.23 in early trade. The rupee had lost six paise to close at 53.47/48 against the dollar in the previous session on Friday.