Rupee Falls as Dollar Strengthens Amid US Rate Hike Expectations

The Indian rupee continued its downward trend on Wednesday, falling 3 paise to Rs 95.91 against the US dollar in early trade.

This decline extends pressure on the domestic currency amid a stronger dollar and ongoing foreign fund outflows.

The dollar index was trading 0.04 per cent higher at 99.38, bolstered by market expectations of a potential interest rate hike from the US Federal Reserve.

Foreign Institutional Investors (FIIs) also remained sellers in Indian equities, selling shares worth Rs 2,977.86 crore on a net basis on Tuesday.