MUMBAI: The rupee today declined by 24 paise to trade at over 11-month lows of 56.97 in early trade on the Interbank Foreign Exchange market due to heavy dollar demand from importers.
Besides, increased demand for the American currency from importers and a weak opening in the domestic equity market also put pressure on the rupee, traders said.
However, dollar's weakness against euro and yen overseas after weaker-than-expected data ahead of Friday's jobs report, cushioned rupee's fall to some extent, they said.
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