Indian rupee breaks four-day rally, opens 13 paise lower at 94.66 per dollar after hawkish Fed signal

The Indian rupee opened 13 basis points lower at 94.66 per dollar on June 18, snapping a four-session winning streak as a hawkish signal from the Federal Reserve lifted the dollar and weighed on emerging-market currencies. Brent crude eased to $78 a barrel, near prewar levels, offering some relief on India’s energy import bill. The rupee is still up about 0.5% so far this week and has gained around 1.5% since the June monetary policy committee meeting.