Indian Rupee Falls Against U.S. Dollar
The rupee depreciated 26 paise, or 0.33%, to 79.71 against the U.S. dollar during the session.
The Indian rupee depreciated tracking a strong dollar and on anticipation of outflows after Blackstone's stake sale in an Indian auto parts maker.
The local currency depreciated 26 paise, or 0.33%, to 79.71 against the U.S. dollar during the session, before closing at 79.68.
The U.S. dollar index rose to 106.64 after FOMC minutes showed that Federal Reserve will likely continue to hike rates as it aims to tackle surge in inflation.
Separately, Blackstone is seeking to raise Rs 3,971.7 crore by selling up to 13.59% stake in Indian automotive parts maker Sona BLW Precision Forgings.
Also, the yield on the 10-year bond rose 8bps to 7.27% during the session, before closing at 7.24%. It fell 10 bps on Wednesday amid a slid in crude oil prices.
Brent crude oil price for October delivery traded at $93.63 a barrel, down 0.03% during late-Asian trade on Thursday.