Rupee falls 22 paise against US dollar in early trade

Mumbai: The rupee weakened by 22 paise to 70.32 against the US dollar on Wednesday, hurt by fresh demand for the American currency from importers.

Traders said besides fresh demand of the US currency from importers, dollar's strength against some currencies overseas weighed on the domestic unit.

On Tuesday, the local currency had bounced back in a tepid fashion from the record closing low, gaining 6 paise to end at 70.10 against the US currency.

Meanwhile, the benchmark BSE Sensex rose nearly 100 points to hit another record of 38,989.65, and Nifty too hit a peak of 11,751.05, up 12.55 points or 0.11 per cent.