Indian rupee down 12 paise against US dollar

The Indian rupee declined by 12 paise to 53.94 against the dollar at the Interbank Foreign Exchange market in early trade on Thursday on fresh demand for the American currency from banks.

The rupee had edged up by just three paise to close at 53.82 against the US dollar amid mild dollar selling by exporters in Wednesday's trade.

Forex dealers said fresh demand for the US dollar from banks mainly put pressure on the rupee but a higher opening in the equity market restricted the loss.

Meanwhile, the BSE Sensex was trading cautiously on Thursday, down 10.07 per cent, or 0.05 per cent, at 19,598.01 at 10.40 am.

With inputs from PTI