The Indian rupee depreciated 45 paise against the dollar to trade at day’s low level of 68.86/$ on Thursday as investors are waiting for the stance of the Reserve Bank of India’s policymakers.
The domestic unit opened on a negative note and depreciated 15 paise at 68.56 against the dollar.
Notably, on Wednesday, the currency closed 34 paise higher at 68.41 against the dollar.
Currently, the currency market’s investors are waiting for the central bank to announce its two-day policy meet outcome at 11:45 AM, IST. Market participants are widely expecting the Monetary Policy Committee (MPC) of the central bank under governor Shaktikanta Das to cut the policy rates by 25 basis points. However, it is the stance of the policymakers which will drive the currency market today.
Meanwhile, equity benchmark indices were trading on a mixed note in tandem with its Asian peers. The Sensex was trading 34 points down to 38,842 levels and the Nifty also declined 8 points to 11,636 levels.
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