Mumbai: The rupee on Tuesday closed by 10 paise to trade at 62.36 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from oil importers.
Forex dealers said besides dollar's gains against euro and yen overseas after better-than-expected manufacturing figures, increased demand from oil importers for the American currency and a lower opening in the stock market also put pressure on the rupee.
They said, however, fall in current account deficit which narrowed sharply to USD 5.2 billion, or 1.2 per cent of GDP in the July-September quarter of 2013-14, capped the rupee's losses.
The rupee ended 13 paise higher at 62.31 against the US dollar in the previous session. Meanwhile, the BSE benchmark Sensex fell by 49.42 points, or 0.24 per cent, to 20,848.59 in early trade today.
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