Mumbai, April 25 -- The rupee Thursday slumped 22 paise to 70.08 against the US dollar in early trade on rising global crude prices and fresh demand for the American currency from importers.

However, the dollar's weakness against some currencies overseas and a higher opening of the domestic equity markets capped the rupee's losses, foprex dealer said.

Fresh dollar demand from banks and importers weighed on the Indian currency, they added.

At the Interbank Foreign Exchange (forex) market, the rupee opened on a weaker note at 70.06 against the US dollar, and further fell to quote at 70.08, a decline of 22 paise over its previous close.

The rupee Wednesday had declined by 24 paise to close at 69.86 against the greenback.

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