The Indian rupee closed weaker on Thursday as the dollar index cooled, with investors awaiting key US CPI inflation data. 

The currency depreciated by 2 paise to close at 83.98 against the US dollar on Thursday, up from its Wednesday close of 83.96, according to Bloomberg. 

The dollar index was down 0.02% at 102.911. The minutes revealed that Fed Chair Jerome Powell faced pushback on the half-point interest rate cut, with some officials advocating for a smaller, quarter-point reduction. 

On the crude front, Brent oil prices rose by 1.32% to $77.59 per barrel, driven by concerns over potential supply disruptions in the Middle East as Israel plans to strike oil-producing Iran. Additionally, Hurricane Milton, which made landfall on Florida’s west coast, further fuelled demand spikes in the world’s largest oil-consuming nation.

No further news of potential ceasefire between Hezbollah and Israel could be heard while focus remained on the continuing war with Israel attacking Lebanon constantly. The focus was also on more stimulus from China who has till date not announced any further stimulus measures till its last announcement in September before the holidays.



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