In early trade, rupee dips 5 paise against dollar

PTI

File Photo

File Photo

The rupee was trading lower by 5 paise at 67.16 against the US dollar in early trade on Tuesday amid caution ahead of RBI’s policy decision scheduled to be announced on Wednesday.

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.

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.