Rupee Vs Dollar: Rupee Falls Against US Dollar In Early Trade After US Fed Hikes Rates

Rupee fell against US Dollar in early trade on Thursday soon after US Federal hiked rates by 75 basis points for the 4th straight meeting.

According to Bloomberg, rupee opened 0.12% down at 82.88 against US Dollar, falling nearly 10 paise compared to Wednesday's close. In the opening trade, rupee declined nearly 0.15% to 82.90. At 10:07 am rupee was trading 0.08% lower at 82.87 against the greenback.

Meanwhile, BSE Sensex fell 97.34 points or 0.16% to 60,808 while NSE Nifty declined 30 points to 18052 in early trade. Shares of Tech Mahindra, Hindalco, Infosys, TCS, and Wipro fell over 1% in morning trade. Bajaj Auto, Bharti Airtel, Titan Company gained nearly 1% in opening trade.

Earlier on Wednesday, rupee depreciated 19 paise to close at 82.78 (provisional) against the US dollar. At the interbank foreign exchange market, the local unit opened at 82.64 and witnessed a high of 82.62 and a low of 82.81, according to a PTI report.
It finally settled at 82.78 against the American currency, registering a fall of 19 paise over its last close of 82.59.