Indian Rupee Closes Weak Against The U.S. Dollar
Rupee depreciates 29 paise to close at Rs 82.51.
The Indian rupee closed weak against the U.S dollar on Thursday as the minutes of Fed's latest meeting showed policymakers maintained their hawkish stance on interest rate.
The local currency depreciated 29 paise to close at Rs 82.51 after opening at Rs 82.37 against the U.S dollar on Thursday.
It closed closed at Rs 82.22 on Wednesday, according to the Bloomberg data.
"Rupee is likely to depreciate today amid strong dollar as the hawkish FOMC minutes reinforced the market expectations of another interest rate hike at the July meeting," ICICI Direct said in a pre-market note.
"There is room for upside till Rs 82.48, which may be pursued, as long as dips do not stretch past Rs 82.2," Anand James, chief market strategist at Geojit Financial Services said.
