Rupee down 14 paise against dollar

Mumbai: The rupee fell by 14 paise to 62.12 against the dollar in early trade today at the Interbank Foreign Exchange due to month-end demand for the American currency from importers, including oil firms.

Besides, euro's weakness against the US dollar overseas also put pressure on the local unit but a higher opening in the domestic equity market limited the fall, forex dealers said.

Meanwhile, the benchmark BSE Sensex rose 123.82 points, or 0.59 per cent, to trade above 21,000 level at 21,110.81.

The rupee had lost four paise to close at 61.98 against the dollar in the previous session on Wednesday. The forex and money markets remained closed yesterday for ‘Mahashivratri’.

Asian stocks managed to shrug off early losses on Friday and push higher, inspired by gains on Wall Street after U.S. Federal Reserve Chair Janet Yellen's comments underscored her confidence in the U.S. economy.