Rupee declines by 8 paise against US dollar

Mumbai: The Indian rupee shot past the Rs 53 per US dollar-mark in early trade on Wednesday, losing 8 paise to Rs 53.05 per dollar amid foreign capital outflows and dollar gains against the euro and other rivals overseas, coupled with a lower opening in the domestic equity market.

The rupee had closed 5 paise higher at Rs 52.97/98 per US dollar on the Interbank Foreign Exchange on Wednesday on fag-end dollar-selling by some banks and exporters.

Dealers said weakness of the euro and other Asian currencies against the dollar overseas and a lower opening in the domestic stock market mainly put pressure on the rupee in early trade.

Meanwhile, the BSE benchmark Sensex fell by 72.57 points, or 0.46 per cent, to 15,655.28 in opening trade on Thursday.