Mumbai: The rupee was trading lower by 3 paise at 64.44 against the US dollar in early trade today on foreign fund outflows amid increased demand for the American currency from importers and a lower opening of the domestic equity market.
However, a weak dollar against major global currencies capped the losses, forex dealers said.
The domestic unit closed higher by 26 paise at 64.41 in the previous session on Thursday on account of fresh selling of the American currency by exporters, besides a weakness in the greenback overseas.
Forex market remained shut on Friday on account of ‘Dr Babasaheb Ambedkar Jayanti’ and ‘Good Friday’.
Meanwhile, the benchmark BSE Sensex shed 24.78 points, or 0.08 per cent, to 29,436.67 in early deals.
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