𝗜𝗻𝗱𝗶𝗮𝗻 𝗥𝘂𝗽𝗲𝗲 Falls To 𝟵𝟰.𝟲𝟲 Against 𝗨𝗦 𝗗𝗼𝗹𝗹𝗮𝗿
The Indian rupee fell 21 paise against the US dollar in early trade on Thursday. The currency opened at 94.66 in the interbank foreign exchange market. It later reached 94.71. This follows a close of 94.50 on Wednesday.
Key market updates:
- The US dollar index rose to 100.23. This is a four-month high.
- The US Federal Reserve kept interest rates unchanged.
- The Federal Reserve signaled a possible quarter-point rate increase later this year.
- Brent crude futures fell 1.68% to $78.21 per barrel.
- The Sensex dropped 111.23 points to 77,044.39.
- The Nifty fell 26.85 points to 24,058.85.
- Foreign institutional investors bought equities worth Rs 101.59 crore on Wednesday.
Geopolitical and trade developments:
- The United States and Iran signed a memorandum of understanding to discuss Iran's nuclear programme.
- Negotiators plan to meet in Geneva on Friday.
- Prime Minister Narendra Modi and President Donald Trump discussed a trade agreement.
- US trade representative Jamieson Greer will visit India next week to discuss trade.