Forex traders said the local unit fell following more hawkish comments by Federal Reserve officials. At the interbank foreign exchange, the rupee opened weak at 74.05 against the U.S. dollar, then fell further to 74.09 against the greenback in early deals, registering a decline of 19 paise from the last close. On January 13, the rupee rose 3 paise to close at 73.90 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.11% to 94.68. Foreign institutional investors remained net sellers in the capital market on January 13, as they offloaded shares worth ₹1,390.85 crore, as per exchange data.

Source: The Hindu January 14, 2022 15:41 UTC