Rupee falls 17 paise to 81.64 against U.S. dollar

At the interbank foreign exchange, the domestic unit opened at 81.61 against the dollar, then lost further ground to quote at 81.64

The rupee depreciated 17 paise to 81.64 against the U.S. dollar in morning trade on November 10, tracking weak domestic equities ahead of U.S. inflation data.

Forex traders said the focus will be on the U.S. October CPI print scheduled to be released later on November 10.

At the interbank foreign exchange, the domestic unit opened at 81.61 against the dollar, then lost further ground to quote at 81.64, registering a loss of 17 paise over its previous close.

Also read: Rupee gains 45 paise to close at 81.47 against U.S. dollar

On November 9, the rupee appreciated by 45 paise to close at 81.47 against the U.S. dollar.

"A poorer than-expected show by the Republicans in the midterms too is hurting sentiment. Republicans are likely to take over control of the House with a narrower margin than earlier expected and the Senate race is still wide open," IFA Global Research Academy said in a research note.

It further added that Fed member Neel Kashkari said the Fed would do what it needs to do to lower inflation and that any talk of a Fed pivot is entirely premature.