The rupee lost seven paise at 62.33 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange due to appreciation of the American currency overseas.
Increased demand for the dollar from importers also weighed on the local currency but a higher opening in the domestic equity market limited the rupee's losses, forex dealers said.
The rupee had shed seven paise to close at 62.26 against the dollar in Tuesday's trade.
Meanwhile, the benchmark Bombay Stock Exchange (BSE) Sensex rose by 137.56 points, or 0.48 per cent, at 28,654.15 in early trade on Wednesday.
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