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Rupee trades lower as US Dollar index soars to 7-month high

Domestic traders’ angst a further rise in interest rate would be faster than what was anticipated.

January 28, 2022 11:55 IST | India Infoline News Service
The Indian Rupee opened lower against the greenback on the back of the US Federal Reserve’s guidance for a stringent monetary policy in the world’s largest economy.

US Federal’s hawkish tone strengthened the US Dollar index to hit its seven-month high and inflamed foreign capital outflow concerns from the Indian market.

The Indian rupee opened at 75.19/$ against its previous closing of 75.07/$. 

The US Dollar index was last seen at 97.13 points, down by 0.13% since its last closing. However, the US Dollar is gaining strength amidst rising inflation in the world’s largest economy.

BSE Sensex trading at 57,989, gaining 712 points against its previous closing of 57,277 levels.

While NSE Nifty was trading at 17,353 levels, gaining 242.80 points for far in today’s trade.

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