Rupee Slips Again 16 Paise Against Dollar Today

The Indian rupee opened 16 paise lower at 94.90 against the US dollar in early trade today, June 24 as the dollar surged to a more than one-year high. The currency remained under pressure amid expectations of a potential Federal Reserve rate hike. Despite falling crude oil prices, market sentiment improved due to easing supply concerns through Strait of Hormuz.