Rupee Slips 10 Paise To End At 82.88 Against Dollar
It was a muted but choppy session, with rupee turning briefly higher by mid-morning before slipping back below 82.90
The Indian rupee declined versus the dollar on Thursday after the US Federal Reserve Chair Jerome Powell refrained from a dovish commentary and instead suggested that it would be “premature” to pause monetary tightening.
The rupee ended at 82.88 against US dollar, down from 82.78 in the previous session. It was a muted but choppy session, with rupee turning briefly higher by mid-morning before slipping back below 82.90.
The rupee’s Asian peers were down 0.3 per cent to 0.6 per cent. The offshore Chinese yuan slipped below 7.34 against the dollar.
The Fed’s policy statement said that it will take into account the cumulative tightening of monetary policy, which analysts said hinted at smaller sized rate hikes from December.
The dollar index jumped to 112.75. Last Wednesday, it had dropped to near 109.50.