Rupee down 5 paise against dollar in early trade

The Indian rupee on Tuesday fell by 5 paise to 48.02 against the US currency in early trade largely on month-end dollar demand from importers.

Dealers said demand for the American currency from importers, particularly refineries, mainly put pressure on the Indian unit but the US dollar's losses against other currencies overseas restricted rupee's losses.

Also, expectations of fresh capital inflows by foreign funds in domestic bourses, which may open higher in line with other firming Asian bourses, further checked rupee's fall.

At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 5 paise down at 48.02 a dollar. It had ended 2 paise lower at 47.97/98 against the US currency in the previous session on Friday. Forex market remained closed yesterday on account of Dussehra.