Indian Rupee Ends Lower Against The U.S. Dollar

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<div class="paragraphs"><p>Indian rupee bank notes. (Photo: Usha Kunji/BQ Prime)</p></div>
Indian rupee bank notes. (Photo: Usha Kunji/BQ Prime)

The Indian rupee ended lower against the U.S. dollar.

The local currency had appreciated seven paise during the session before falling to end at 82.79 against the greenback. It had closed at 82.71 on Tuesday.

The rupee had hit a record low of 83.29 on Oct. 20.

"Globally markets are waiting for the Fed commentary tonight. A 75 basis points rate hike is given and already discounted by the markets," said VK Vijayakumar, chief investment strategist at Geojit Financial Services in note.

"In the absence of any rate moderation signal, markets are likely to correct. So investors may wait and watch for this big event," he said.