Mumbai, Jun 10: The rupee was trading lower by 16 paise at 66.87 against the US dollar in early trade today on higher demand for the American currency from importers and banks. Dealers attributed the rupee’s fall to increased demand for the US currency, but dollar’s weakness against some currencies overseas made sure the losses do not mount. (ALSO READ: Don’t be over-zealous while lending: RBI Deputy Governor S S Mundra to banks )Also Read - Sensex Hits Lifetime High of 61K; Nifty Posts Record Opening; Check Top Stocks

The domestic unit closed lower by 6 paise at 66.71 in yesterday’s trade due to fag-end dollar demand from banks and exporters on the back of higher crude oil prices amid a fall in domestic equities. Meanwhile, the benchmark BSE Sensex fell 80.38 points, or 0.30 per cent, to 26,683.08 in early deals. Also Read - Market At Lifetime High, Check Top Performing Stocks

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