Rupee slips by 7 paise against dollar

Mumbai: The rupee fell seven paise to 63.59 against the US dollar in early trade on May 25 at the Interbank Foreign Exchange due to rise in the greenback's value against other global currencies. Forex dealers attributed the fall to the dollar's strength on jump in US core inflation and demand for the American currency from importers.

Besides, a lower opening in the domestic stock market weighed on the rupee. The rupee had gained 12 paise to end at 63.52 against the dollar in the previous session on Friday on sustained selling of the American currency by banks and exporters. Meanwhile, the benchmark BSE Sensex fell 130.70 points, or 0.46 per cent, to 27,826.80 in early trade on May 25.