Rupee down 12 paise against dollar in early trade

Mumbai: Rupee was trading lower by 12 paise at 67.18 against the dollar in early trade today on increased month-end demand for the American currency from importers and banks.

The dollar was firm against some global currencies after the US Federal Reserve Chair Janet Yellen indicated that the interest rates could rise in coming months.

Forex dealers said month-end demand for the US currency from importers and a lower opening in the domestic equity market put pressure on the rupee.

On Friday, the rupee had closed almost flat at 67.06 against the US currency in restricted activity.

Meanwhile, the benchmark BSE Sensex fell by 60.39 points or 0.21 per cent to 27,721.86 in opening trade today.

PTI