Rupee dips further by 8 paise against dollar ahead of RBI policy

The rupee was trading lower by eight paise against the US dollar to 64.51 in early trade on Wednesday ahead of the outcome of the Reserve Bank of India's (RBI) bi-monthly policy meet scheduled later in the day.

Rupee dips further by 8 paise against dollar ahead of RBI policy
On Tuesday, the rupee had ended seven paise lower at 64.43 against the US dollar. Representational Image. Image Source: ZeeBiz WebDesk

The rupee was trading lower by eight paise at 64.51 against the US dollar in early trade on Wednesday at the forex market amid caution ahead of the Reserve Bank of India's (RBI) bi-monthly policy meet outcome due later in the day.

ALSO READ: Rupee appreciation likely to hurt margins of TCS, Infosys, others in Q1 FY18: Experts

Forex dealers said increased demand for the US currency from importers as also the greenback's gains against rivals overseas put pressure on the rupee.

On Tuesday, the rupee had ended seven paise lower at 64.43 against the US dollar.

Meanwhile, the benchmark BSE Sensex was trading higher by 99.42 points, or 0.31%, at 31,289.98 in opening deals. 

ALSO READ: How a stronger Indian Rupee can hamper your career in India's IT sector

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Written By: PTI
Updated: Wed, Jun 07, 2017
09:46 AM IST
Mumbai , PTI
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