Rupee dips further by 8 paise ahead of RBI policy

Mumbai: The rupee was trading lower by 8 paise at 64.51 against the US dollar in early trade today at the forex market amid caution ahead of the RBI’s bi-monthly policy meet outcome due later in the day.

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 7 paise lower at 64.43 against the US dollar.

Meanwhile, the benchmark BSE Sensex was trading higher by 99.42 points, or 0.31 per cent, at 31,289.98 in opening deals.