Rupee down 70 paise against dollar in early trade

MUMBAI: The rupee on Monday again turned weak and plunged 70 paise to 63.90 against theUS dollar in early trade after strong recovery on Friday, due to increased demand for the American currency from importers and some banks. 

Dealers said besides increased month-end demand for dollar from importers, dollar's gain against some currencies overseas put pressure on the domestic currency. 

However, a higher opening in the domestic equity market, capped the rupee's fall, they said.

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