Dynamite News Rupee sheds 17 paise against US dollar
The rupee depreciated by 17 paise to 67.09 against the US dollar in early trade.
Mumbai: The rupee depreciated by 17 paise to 67.09 against the US dollar in early trade today after RBI's rate hike amid fresh demand for the American unit from importers and banks.
Also Read: RBI hikes repo rate by 25 basis points; reverse repo revised to 6 %
Yesterday, the RBI hiked the policy rate for the first time in over four years -- by 0.25 per cent -- to curb inflationary pressures from high oil prices.
Also Read | Rupee slips 5 paise to 68.87 against US dollar
Weakness in the US dollar against other currencies, including the euro, limited the rupee's fall, analysts said.
The rupee had ended at a fresh one-month high of 66.92 yesterday, surging 23 paise against the US dollar.
Also Read: Rupee gains 11 paise against dollar in early trade
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Rupee at 3-week low; down 36 paise against US dollar
Meanwhile, the benchmark BSE Sensex was trading higher by 207.83 points, or 0.59 per cent, at 35,383.71 in opening deals. (PTI)