Mumbai, Jun 25 (PTI) The rupee weakened by 29 paise to 68.13 against the dollar in early trade today as demand for the American unit from importers and banks picked up.

The domestic equity markets opening lower also put pressure on the rupee but the dollar falling to a two-week-low against the yen on global trade concerns capped the losses, dealers said.

On Friday, the rupee had continued its rally for the third straight session, strengthening 14 paise to end at 67.84 against the dollar amid sustained unwinding of American currency by exporters.

The benchmark Sensex fell by 56.31 points, or 0.16 per cent, to 35,633.29 in early trade today.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)