Page 2 - Rupee Declines News Today

Forex traders said the Dollar index gained strength after US Federal Reserve Chairman Jerome Powell reignited worries of a 50-bps rate hike in the Federal Open Market Committee (FOMC) meeting to be held on March 21-22, 2023.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 101.92.

Forex traders expect the rupee to trade with a slight negative bias on global economic concerns.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent higher at 102.40.

At the interbank foreign exchange market, the rupee opened on a positive note at 81.29 against the greenback, but pared the gains and fell to an intra-day low of 81.73.

At the interbank foreign exchange, the rupee opened weak at 81.32 against the dollar, then fell to 81.43, registering a decline of 13 paise over its last close.

At the interbank foreign exchange market, the rupee opened on a positive note at 82.69 against the greenback, but pared the gains and fell to an intra-day low of 82.92.

Foreign fund outflows and rising crude oil prices in the international market impacted the domestic unit, forex traders said.