Rupee Vs. USD: The Indian rupee opened flat against the US dollar

19 Jun 2023 , 11:20 AM

The Indian rupee opened flat against the US dollar on June 19 in a thinly-traded market. In the early trade, the rupee was trading at 81.94 against the dollar, showing a minimal increase of 0.01 % compared to its previous close.

Other Asian currencies also experienced a decline against the dollar as the safe-haven appeal of the dollar strengthened amid expectations of continued interest rate hikes by the Federal Reserve and the European Central Bank.

The South Korean won depreciated by 0.8 %, the Indonesian rupiah fell by 0.36 percent, China Offshore declined by 0.33 %, the Taiwan dollar lost 0.3 %, the Thai Baht decreased by 0.2 %, and the Singapore dollar dipped by 0.1 % against the US dollar.

The dollar index, which measures the strength of the US currency against major currencies, was trading at 102.36, showing a 0.11 % increase from its previous close of 102.24.