Mumbai: The rupee on Friday fell 52 paise to 55.49 against the dollar in early trade on the Interbank Foreign Exchange market following increased demand for the American currency from importers.

The dollar also gained strength in the overseas market against the euro and other currencies.

Dealers said the European Central Bank's cutting key interest rate to a record low of 0.75 percent increased the demand for the dollar from importers, particularly oil companies, weighing on the rupee value.

The rupee had ended 48 paise lower at 54.97 against the American currency on Thursday over its previous closing.

Meanwhile, the BSE 30-stock index, Sensex, was down 51.70 points, or 0.29 percent, to 17,486.97 points in early trade on Friday.


Latest News from Business News Desk