India, June 18 -- The Indian rupee weakened by 21 paise to 94.71 against the US dollar in early trade on Thursday, pressured by a stronger greenback after the US Federal Reserve adopted a hawkish tone while keeping interest rates unchanged.
According to forex market participants, the dollar index climbed to around 100.23, its highest level in four months, as the Fed signaled the possibility of at least one quarter-percentage-point rate hike later this year.
In the interbank foreign exchange market, the rupee opened at 94.66 and subsequently slipped to 94.71, down 21 paise from its previous closing level.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....