Mumbai: The rupee on Tuesday lost 11 paise to Rs 55.85 against the US dollar in early trade on the Interbank Foreign Exchange following dollar gains against other currencies overseas amid a weak trend in the equity market.
Forex dealers said dollar strength against the other Asian currencies and a lower opening in the stock market mainly put pressure on the rupee.
The rupee had lost 32 paise to close at 55.74 against the US currency in the previous session as dollar demand from banks and corporates emerged at fag-end after S&P warned that it could lower India's sovereign rating.
Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 114.54 points, or 0.69 percent, to 16,553.47 in opening trade on Tuesday.


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