Rupee drops 15 paise to 82.64 / $

The US Federal Reserve's interest rate hike and hawkish posture hurt investor sentiments, and the rupee dropped 15 paise to 82.64 against the US dollar in early trade on Thursday. The local unit at the interbank foreign exchange opened significantly lower versus the dollar at 82.63, then fell further to 82.64, a loss of 15 paise from its previous closing.

The rupee ended the previous session on Wednesday 11 paise higher at 82.49 against the US dollar. The dollar index, which measures the dollar's strength against a basket of six different currencies, increased by 0.08 % to 103.85. The benchmark for world oil, Brent crude futures, dropped 0.69 % to USD 82.13 a barrel.

The 30-share BSE Sensex was down 120.64 points, or 0.19 %, at 62,557.27 on the domestic equity market. The NSE Nifty index dropped 52.30 points or 0.28 % to 18,660.30. According to exchange data, foreign institutional investors (FIIs) were net purchasers in the capital markets on Wednesday, purchasing shares worth Rs 372.16 crore.

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