ICICI Direct, The rupee depreciated yesterday amid a strong dollar and muted domestic markets.
November 03, 2022 / 09:53 AM IST
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ICICI Direct’s currency report on USDINR
The rupee depreciated yesterday amid a strong dollar and muted domestic markets. Further, focus remained on FOMC meeting where the Fed is likely to raise interest rates by 75 bps and provide hints on future monetary stance • The dollar regained strength after Federal Reserve Chair Powell said it was premature to discuss a pause in its hiking of interest rates to combat soaring inflation. The Fed raised its interest rates by 75 bps and signalled plans to keep raising them possibly in smaller increments but to higher levels than previously anticipated.
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03112022 – currency
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