<p>Mumbai: The rupee depreciated 14 paise to 86.57 against the US dollar in early trade on Thursday, as safe-haven demand amid prevailing risk-off sentiments pushed the dollar index higher.</p><p>Forex traders said geopolitical uncertainties, prevailing risk-off sentiments, and elevated crude oil prices collectively pressured the local currency, while robust dollar demand from oil importers dented investment sentiments further.</p><p>At the interbank foreign exchange, the domestic unit opened at 86.54 against the greenback, then touched an early high of 86.49 and a low of 86.57 against the greenback in initial trade.</p>.Stock markets decline in early trade on weak global peers amid Middle East tensions. <p>On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the US dollar.</p><p>"As uncertainty grips the market, the rupee could remain on the weak side in the days to come. For the day, the range is expected between 86.25/75 as we await happenings in the Middle East, as also on the trade front," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Meanwhile, the US FED kept interest rates on hold despite Donald Trump's demand to cut them by 250 bps.</p><p>"The signals from FED were mixed as they retained projections for 2 quarter-point rate cuts this year," Bhansali said.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.06 per cent at 98.96.</p>.Wholesale price inflation drops to 14-month low in May. <p>Brent crude, the global oil benchmark, fell 0.26 per cent to USD 76.50 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share BSE Sensex advanced 33.49 points, or 0.04 per cent, to 81,478.15, while the Nifty rose 22.90 points, or 0.09 per cent, to 24,836.45.</p><p>Foreign institutional investors (FIIs) purchased equities worth Rs 890.93 crore on a net basis on Wednesday, according to exchange data.</p>
<p>Mumbai: The rupee depreciated 14 paise to 86.57 against the US dollar in early trade on Thursday, as safe-haven demand amid prevailing risk-off sentiments pushed the dollar index higher.</p><p>Forex traders said geopolitical uncertainties, prevailing risk-off sentiments, and elevated crude oil prices collectively pressured the local currency, while robust dollar demand from oil importers dented investment sentiments further.</p><p>At the interbank foreign exchange, the domestic unit opened at 86.54 against the greenback, then touched an early high of 86.49 and a low of 86.57 against the greenback in initial trade.</p>.Stock markets decline in early trade on weak global peers amid Middle East tensions. <p>On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the US dollar.</p><p>"As uncertainty grips the market, the rupee could remain on the weak side in the days to come. For the day, the range is expected between 86.25/75 as we await happenings in the Middle East, as also on the trade front," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Meanwhile, the US FED kept interest rates on hold despite Donald Trump's demand to cut them by 250 bps.</p><p>"The signals from FED were mixed as they retained projections for 2 quarter-point rate cuts this year," Bhansali said.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.06 per cent at 98.96.</p>.Wholesale price inflation drops to 14-month low in May. <p>Brent crude, the global oil benchmark, fell 0.26 per cent to USD 76.50 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share BSE Sensex advanced 33.49 points, or 0.04 per cent, to 81,478.15, while the Nifty rose 22.90 points, or 0.09 per cent, to 24,836.45.</p><p>Foreign institutional investors (FIIs) purchased equities worth Rs 890.93 crore on a net basis on Wednesday, according to exchange data.</p>