The Indian rupee declined in the early trade on Wednesday. It has opened lower by 13 paise at 64.63 per dollar versus 64.50 Tuesday.
The dollar hit a one-month high against a basket of currencies on the view that the Federal Reserve may raise interest rates once more this year, while sterling tumbled after the Bank of England’s governor said it is not the time to raise rates.
According to Motilal Oswal currency report, the rupee fell in yesterday’s session and, for the day, expect it trade with a slight weaker bias in the range of 64.40 and 64.85.
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