The rupee fell 21 paise to 88.43 against the US dollar on Thursday amid a stronger greenback after Fed Chair Jerome Powell said a December rate cut is not certain. Weak equities and FII outflows added to the pressure.

Mumbai: The rupee depreciated 21 paise to 88.43 against the dollar in early trade on Thursday, weighed down by the strength of the American currency after Fed Chairman Jerome Powell indicated that the rate cut in December is not given.

Forex traders said the dollar index rose to 99.05 and the 10-year yield to 4.07 per cent despite the 25 bps rate cut by the FED overnight.

At the interbank foreign exchange, the rupee opened at 88.37 against the US dollar before dropping to 88.43, down 21 paise from its previous close.

On Wednesday, the rupee had settled at 88.22 against

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