Rupee slips 16 paise against US dollar in early trade

Mumbai: The rupee weakened by 16 paise to 63.79 against the US dollar in early trade on Wednesday as the greenback firmed up overseas amid a lower opening in the domestic equity market.

Forex dealers said apart from the dollar's gains against some other currencies overseas, a lower opening in the domestic equity markets weighed on the rupee.

Yesterday, the rupee staged a strong comeback to close 17 paise higher at 63.63.

Meanwhile, the benchmark BSE Sensex was trading lower by 158.30 points or 0.49 per cent to 31,855.89 in early trade on Wednesday.