Rupee down by 18 paise against dollar in early trade

The rupee on Tuesday weakened by 18 paise to trade at Rs 49.28 against the US currency as the dollar strengthened in the overseas markets. However, a higher opening in the domestic equity market capped the rupee losses.

Dealers attributed the rupee's fall to dollar gains against the euro in overseas markets.

The rupee had strengthened by 4 paise to close at Rs 49.10/11 against the US dollar in the previous session on Friday. The forex market was closed on Monday on account of Eid ul Zuha.

Meanwhile, the BSE benchmark Sensex was up by 58.64 points, or 0.33 per cent in early trade.