Rupee sheds 16 paise against US dollar


The rupee fell 16 paise to 67.08 per US dollar in early trade on Thursday, after RBI’s rate hike amid fresh demand for the American unit from importers and banks.On Wednesday, thefor the first time in over four years — by 0.25% — to curb inflationary pressures from high oil prices.

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 on Wednesday, surging 23 paise against the US dollar.


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