Rupee tumbles 16 paise to 73.03 against US dollar
"However, we see that rupee depreciation could be short-lived given the RBI's aim to keep the rupee stronger with a view to control imported inflation. The appreciation limit could largely depend on where the RBI says 'enough is enough' and the overall performance of the US dollar," said Sriram Iyer, Senior Research Analyst, Reliance Securities."
The rupee depreciated 16 paise to close at 73.03 against the US dollar on Wednesday amid a strengthening greenback overseas.