The rupee weakened by 16 paise to 64.66 against the US dollar in early trade on Tuesday following increased demand for the American currency from importers and banks amid a lower opening of the domestic equity market.

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Forex dealers said the US dollar's gain against other currencies overseas and a lower opening of the domestic equity market put pressure on the rupee.

The rupee had weakened by 6 paise against the American currency to end at 64.50 on Monday on month-end demand for the dollar from importers.

Meanwhile, the benchmark BSE Sensex retreated from the record close by falling 41.24 points, or 0.13%, to quote at 31,068.04 in early trade. 

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