From The Hindu
Owned by Kasturi & Sons Ltd.Rupee falls 8 paise to close at 94.20 against U.S. dollar
What's behind this
The rupee fell 8 paise to close at a provisional 94.20 per U.S. dollar on Friday, pressured by a stronger greenback and weak domestic equities. Traders said the dollar’s gain was driven by stronger‑than‑expected U.S. inflation data, rising Treasury yields and hawkish comments from Federal Reserve officials, which reinforced expectations of further monetary tightening. In the interbank market the rupee opened at 94.07, reached an intra‑day high of 94.05 and a low of 94.28.
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Forex traders said the U.S. dollar has strengthened, driven by stronger-than-expected U.S. inflation data, rising Treasury yields and hawkish remarks from U.S. Federal Reserve officials, reinforcing expectations of further monetary tightening