Rupee down by 14 paise against dollar in early trade

Mumbai: Continuing its losing streak for thefifth straight session, the rupee weakened by another 14 paise to 61.88 in early trade at the Interbank Foreign  Exchange on increased dollar demand from banks and importers.

Forex dealers said increased demand for the American unit  from importers mainly weighed on the rupee but surging  domestic equity markets and the euro's gain against the  dollar, capped the fall.  The rupee had shed one paise to end at one-month low of  61.74 against the US dollar in yesterday's trade. 

Meanwhile, the benchmark BSE Sensex opened higher by  130.72 points, or 0.46 per cent, to hit another record-high of  28,294.01 in opening trade today.