Rupee sees high volatility against dollar post-Fed policy decision to leave key interest rates unchanged

The rupee opened strong at 69.47 at the interbank forex market, but lost ground and touched 69.67 per dollar, displaying gains of just 1 paise against the greenback.

Press Trust of India June 20, 2019 10:42:03 IST
Rupee sees high volatility against dollar post-Fed policy decision to leave key interest rates unchanged
  • The US Federal Open Market Committee kept the key rate in the 2.25-2.5 percent range

  • The rupee opened strong at 69.47 at the interbank forex market, but lost ground and touched 69.67 per dollar

  • On Wednesday, the rupee had settled at 69.68 against the US dollar.

Mumbai: The rupee witnessed high volatility against the US dollar in opening trade on Thursday after the US central bank left key interest rates unchanged.

The US Federal Open Market Committee kept the key rate in the 2.25-2.5 percent range.

The rupee opened strong at 69.47 at the interbank forex market, but lost ground and touched 69.67 per dollar, displaying gains of just 1 paise against the greenback.

On Wednesday, the rupee had settled at 69.68 against the US dollar.

Rupee sees high volatility against dollar postFed policy decision to leave key interest rates unchanged

FP photo.

Forex dealers said foreign fund outflows, the weak opening of domestic equities and rising crude oil prices weighed on the local unit.

Foreign funds pulled out Rs 97.05 crore from the capital markets on a net basis Wednesday, provisional data showed.

The benchmark BSE Sensex was trading 34.59 points, or 0.09 percent, lower at 39,078.15 at 0930 hours. Similarly, the broader NSE Nifty was quoting 23.45 points, or 0.20 percent, down at 11,668.

Meanwhile, Brent crude, the global benchmark, was trading at 62.61 per barrel higher by 1.28 percent.

Updated Date:

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