Indian rupee ended weaker against dollar on Thursday as the hawkish stance of the U.S. Federal Reserve increased the possibility of another aggressive rate hike this month. U.S. Federal Reserve's minutes of the meeting held last month indicated a hawkish stance and a rate hike of 75 basis points is likely in July. Traders were worried as foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 330.13 crore, as per stock exchange data. Meanwhile, The RBI has raised overseas borrowing limits for companies and liberalised norms for foreign investments in government bonds as it announced a slew of measures to boost foreign exchange inflows in efforts to curb the fall of the rupee. On the global front, dollar retreated from near a two-decade high against major peers on Thursday, tracking an easing in Treasury yields, while U.S. equity futures accelerated gains as investors continued to assess the economic outlook.
Finally, the rupee ended at 79.13 (provisional), weaker by 19 paisa from its previous close of 78.94 on Wednesday. The currency touched a high and low of 79.26 and 78.90 respectively.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: