Mumbai: The rupee weakened by 19 paise to 70.25 against the US dollar in early trade on Thursday due to fresh buying of the American currency by importers and banks.
A higher opening of domestic equity market, however, capped the loss, brokers said.
At the Interbank Foreign Exchange, the rupee opened sharp lower at 70.27 a dollar against the previous close of 70.06. The domestic unit moved in a tight range of 70.31 to 70.22 in the morning trade.
Meanwhile, BSE benchmark Sensex rallied 391 points and NSE Nifty reclaimed the 10,800 level Thursday on positive cues from Wall Street.
Also Read: BSE Sensex, Nifty Drop Amid Weak Global Cues
Ms Kalinga