Rupee Vs. USD: Rupee opens 13 paise lower against the USD

6 Jul 2023 , 12:35 PM

The Indian rupee opened 13 paise lower against the US dollar on Thursday following hints of more interest rate hikes from the US Federal Reserve. The rupee started at 82.36 against the dollar, compared to the previous close of 82.23.

The dollar index strengthened, while US yields and equities pulled back. On Wednesday, the rupee depreciated by 20 paise, closing at 82.23 against the US dollar.

Most Asian currencies declined by 0.2% to 0.4%. The 2-year Treasury yield rose to 4.9630% in Asia, nearing its highest level since March.

In the domestic market, the Sensex and Nifty were trading lower during the pre-opening session. On Wednesday, foreign institutional investors (FIIs) made net purchases of Indian shares worth Rs 1,603.15 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 439.01 crore.

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