Rupee Vs. USD: Rupee opened 12 paise lower against the USD

23 Jun 2023 , 10:16 AM

The Indian rupee opened 12 paise lower against the US dollar on Thursday, influenced by losses in other Asian currencies. The local unit started the day at 82.07 against the dollar, compared to the previous close of 81.95.

Other Asian currencies experienced declines ranging from 0.2% to 0.5%. The dollar index rose above 102.50, supported by weak risk sentiment in Asia due to concerns over China and hawkish central banks.

In the previous session, the rupee had gained 9 paise, closing at 81.95. US Federal Reserve Chair Jerome Powell reiterated the need for additional rate hikes to address inflation.

During the pre-opening session, the domestic market witnessed a decline in the Indian benchmark equity indices, namely Sensex and Nifty. According to provisional data available on the exchanges, Foreign Institutional Investors (FIIs) net bought Indian shares worth Rs 693.28 crore, while Domestic Institutional Investors (DIIs) net purchased shares amounting to Rs 219.42 crore.

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