India News

Rupee value dips by 5 paise

Increased demand for the US currency from importers and rise in the value of the dollar against rivals overseas exerted pressure on the rupee, which led to the drop in value.

Published: 05th June 2018 02:00 PM  |   Last Updated: 05th June 2018 02:01 PM   |  A+A-

Rupee notes are seen in this picture illustration. | Reuters

Representative image | Reuters

By PTI

MUMBAI: The rupee was trading lower by 5 paise at 67.16 against the US dollar early today. The drop in value comes ahead of the Reserve Bank of India (RBI)'s policy decision to be declared tomorrow.

Forex dealers said that the increased demand for the US currency from importers and rise in the value of the dollar against rivals overseas exerted pressure on the rupee.

Yesterday, the rupee had ended 5 paise lower at 67.11 against the US dollar. Meanwhile, the benchmark BSE Sensex was trading lower by 81.33 points, or 0.23 per cent, at 34,930.56 in opening deals.

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