The Indian Rupee Slipped To The 3 Months Low In The Early Trade On Wednesday

The Indian rupee slipped to the 3 months low in the early trade on Wednesday. It has opened lower by 25 paise at 65.12 per dollar versus 64.87 Tuesday.

Pramit Brahmbhatt of Veracity said, "A stronger dollar and weak domestic equity market will continue to put pressure on the rupee."

"We expect the spot USD-INR pair to trade in a range of 64.80- 65.20 today," he added.

The dollar stood near a three-week high against a basket of currencies on Wednesday, after Federal Reserve chairman Jerome Powell's upbeat views on the economy bolstered bets on further Fed interest rate hikes this year.

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