The rupee fell 16 paise to 65.43 against the dollar in early trade today on sustained foreign fund outflows amid increased demand for the US currency from importers.
Besides, early losses in domestic equities also weighed on the rupee, dealers said.
The dollar was weak against major world currencies which capped the rupee’s losses, they added.
The rupee had gained four paise to close at 65.27 per dollar on Friday on fresh selling of the American currency by banks and exporters on the back of lower greenback overseas.
Meanwhile, the benchmark BSE Sensex was trading lower by 80.56 points or 0.30 per cent to 26,576.27 in early deals.
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