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Rupee Opens Lower Against Dollar After Hawkish Federal Reserve Signals
The Indian rupee opened 13 paise lower at 94.66 against the US dollar on June 18, ending its four-session gaining streak. The decline followed a hawkish policy outlook from the US Federal Reserve, which kept interest rates unchanged but indicated the possibility of a rate hike later this year, strengthening the dollar globally.
By Finblage Editorial Desk
9:23 am
18 June 2026
The Indian rupee weakened by 13 paise to open at 94.66 against the US dollar on June 18, snapping a four-day rally as global currency markets reacted to a more hawkish-than-expected stance from the US Federal Reserve. The rupee had closed at 94.53 in the previous session after reaching its strongest level in nearly six weeks.
The US Federal Reserve maintained its benchmark interest rate in the range of 3.50 percent to 3.75 percent. However, policymakers signaled the possibility of at least one rate hike later in 2026, a stance that was firmer than market expectations. The guidance pushed US Treasury yields higher and supported the US dollar against major global currencies.
A stronger dollar typically exerts pressure on emerging market currencies, including the rupee, as investors reassess capital flows and interest rate differentials. Market participants also reacted to stronger-than-expected US economic data, which reinforced expectations that the Federal Reserve could maintain a restrictive monetary policy stance for longer.
Despite the day's weakness, the rupee had shown resilience in recent sessions, supported by easing crude oil prices, expectations of improved foreign currency inflows, and measures announced by the Reserve Bank of India to strengthen foreign exchange liquidity.
Currency traders are expected to closely monitor upcoming US economic data, Federal Reserve commentary, crude oil prices, and foreign fund flows for further direction in the rupee-dollar exchange rate.
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10 June 2026
