The Indian rupee slumped 16 paise to 73.07 against the US dollar in opening trade on Friday after the Reserve Bank kept policy rates unchanged for the sixth time in a row. Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance amid the second COVID wave.

At the interbank foreign exchange, the rupee opened lower at 73.00 against the dollar and lost further ground to touch 73.07, registering a fall of 16 paise over its previous close. On Thursday, the rupee had settled at 72.91 against the US dollar.