Mumbai: The rupee on Wednesday declined by 27 paise to 50.96 against the US dollar on the InteRupee down 27 paise vs dollar in Foreign Exchange market in early trade, due to increased demand for the American currency from importers.
Traders said apart from the dollar's gains against other currencies overseas, a weak opening in the equity market and increased demand for the Greenback from importers, mainly put pressure on the rupee.
The rupee had gained 58 paise to close at 50.69/70 in the previous session on fresh dollar selling by exporters and banks.
Meanwhile, the BSE benchmark Sensex was down by 106.37 points, or 0.62 percent, at 17,150.99 in early trade.