Indian rupee started 2 paise lower against the US dollar due to increased US Treasury yields. US Federal Reserve hinted at prolonged higher interest rates, influencing the rupee’s opening at 83.09 compared to the previous close of 83.07.
Earlier, rupee had gained 20 paise to close at 83.07 against the dollar, nearing a record low, leading to RBI intervention. Indian stock indices (Sensex, Nifty 50) were down in the pre-opening session. Foreign Institutional Investors (FIIs) sold Indian shares worth Rs 3,110.69 crore, while Domestic Institutional Investors (DIIs) offloaded shares worth Rs 573.02 crore on Wednesday, according to provisional exchange data.
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