Rupee sheds 18 paise against dollar in early trade

Mumbai: The rupee depreciated by 18 paise to 66.88 against the dollar in early trade today at the Interbank Foreign Exchange market on increased demand for the US currency from importers.

Besides, the dollar held strong against other currencies overseas on rising hopes that the Federal Reserve will hike interest rates later this month.

Also Read | Rupee rides on GDP numbers, up 6 paise in early trade

Also Read: RBI releases 'Quarterly Statistics on Deposits, Credit of Scheduled Commercial Banks for December 2016'

A lower opening in equities also kept pressure on the domestic unit, dealers said.

Also Read | Rupee falls further, down 8 paise against US dollar

Yesterday, the rupee had ended higher by 12 paise at 66.70 against the American currency on fresh bouts of dollar selling amid an overall upbeat sentiment following the release of GDP data.

Meanwhile, the benchmark BSE Sensex fell further by 88.05 points or 0.30 per cent to 28,751.74 in early deals today.
 

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• #Paise
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