Rupee gains 11 paise to 95.17 against US dollar
The rupee rose 11 paise to 95.17 against the US dollar in early trade on Thursday. The US Federal Reserve kept its key interest rate unchanged at 3.75%–4.00%, as widely expected. Forex traders said the market reaction turned mildly in the dollar's disfavour. The rupee is still near the 95 mark against the dollar.
ContextThe rupee is the Indian currency, and a weaker rupee makes imports like oil and electronics costlier for Indian buyers. The US Federal Reserve sets American interest rates, which steer global money flows, so its decisions move currencies like the rupee.
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