Rupee Opens Lower as Fed Hike Strengthens Dollar

India’s rupee became slightly weaker against the US dollar.

This happened after the US Federal Reserve raised interest rates.

The Fed also suggested that it might raise rates again this year.

Higher US rates can make dollar investments more attractive.

This may encourage investors to move money away from countries such as India.

High oil prices are another concern because India imports oil.

The Reserve Bank of India plans to remove some extra money from the banking system, which could support the rupee.

Experts say the rupee’s next move will depend on interest rates, oil prices, investor activity and central-bank action.