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.

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.

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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.