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Indian Rupee Weakens Against The U.S. Dollar
The local currency weakened by about 7 paise to close at 82.74 against the greenback on Thursday.
25 May 2023, 03:49 PM IST 
Various denominations of Indian rupee banknotes. (Photo: Vijay Sartape/BQ Prime)
The Indian rupee weakened against the U.S. dollar as investors moved towards safe haven currencies like the greenback due to worries about U.S. debt.
The local currency weakened 9 paise to open at 82.76, while it declined by 7 paise to close at 82.74 against the greenback on Thursday.
The local currency closed at 82.67 on Wednesday.
"The U.S. dollar index gained more than 0.30% on Wednesday to hit a fresh two-month high amid resiliency in U.S. economic growth while unease over U.S. debt ceiling talks forced investors to move towards safe havens," ICICI Securities said in a note. "Meanwhile, minutes from U.S. Fed last meeting signalled a likely pause in rate hike campaign in June," it said.