Here are few things to know about forex market today:
European Central Bank's unexpectedly dovish decision overshadowed its statement that it aimed to wrap up its crisis-era stimulus programme at the end of this year. The ECB now plans to reduce monthly asset purchases between October and December to 15 billion euros until the end of 2018 and then conclude the programme.
US dollar strengthening against other currencies overseas as the European Central Bank (ECB) pledged to leave interest rates unchanged until mid-2019, weighed on the rupee, traders said.
The US Federal Reserve, on Wednesday, decided to raise rates by a quarter of a percentage point and indicated additional hikes this year than anticipated previously. That triggered a surge in the dollar, which added to headwinds for the rupee.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,372.84 crore on Thursday, as per provisional data issued by the stock exchanges.
On Thursday, the rupee had gained 3 paise to end at 67.62 against the US currency, cutting short its two-day decline. (With inputs from Agencies)