The Indian rupee closed weak against the U.S. dollar after the Federal Reserve kept interest rates unchanged at its just-concluded policy meeting on Wednesday.
The local currency depreciated seven paise to close at Rs 82.18 after opening at Rs 82.17 against the U.S. dollar on Thursday.
It closed at Rs 82.11 on Wednesday, according to Bloomberg data.
ICICI Direct Research too expected the rupee to depreciate for the day given that the U.S. Fed held interest rates steady.
However, a sharp depreciation of the rupee may be prevented due to the softening of crude oil prices, it said. The rupee will also find support from the Fed's signal that borrowing costs will increase by another 50 basis points by end-December.
"The dollar/rupee pair is expected to find support at Rs 82.05 and rise towards the level of Rs 82.25," ICICI Direct Research said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
