Rupee down 40 paise against dollar in early trade

The rupee on Thursday fell by 40 paise to 59.74 in early trading on the interbank foreign exchange market today, burdened by dollar gains against other currencies.

Forex Traders also said the rising dollar against other currencies overseas after U.S. Federal Reserve Chairman Ben Bernanke said the bank had no plans to unwind its stimulus to the economy back on track, increasing demand for the U.S. currency from importers pressure on the Rupee.

However, she said, a greater openness in the domestic equity market limited the losses Rupee.

The rupee has lost three paise to 59.34 against the U.S. dollar yesterday to close by not keeping driven by the relaxation of FDI norms in different areas and measures liquidity RBI tightening the profits.

Meanwhile, the BSE benchmark DAX gained the 20,000 points level by rising 104.12 points, or 0.52 percent, to 20,052.85 in early trading on Thursday.