Indian rupee has softened marginally against US dollar on Thursday amid increasing dollar strength after consumer prices in the US rose slightly more than expected in the month of July, raising expectation of Federal Reserve interest hike by the year-end. During early trade, the rupee showed mild strength against the dollar, supported by a retreat in crude oil prices, with Brent crude trading below the $90-a-barrel mark. However, the rupee softened over the course of the session to end at 95.45. On the global front, British pound has weakened against US dollar on Thursday as investors waited Fed chair Kevin Warsh’s speech for further cues on interest rate trajectory of Federal Reserve.
Finally, the rupee ended at 95.45 (Provisional), weakened by 1 paisa from its previous close of 95.44 on Tuesday. The currency touched a high and low of 95.56 and 95.40 respectively.
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