The local unit began trading at 81.61 against the dollar on the interbank foreign exchange but lost momentum to quote at 81.64, losing 17 paise from its previous finish.
Digital Desk: Following weak domestic equities ahead of US inflation data, the rupee lost 17 paise to 81.64 against the US dollar in morning trade on Thursday.
The US October CPI print, which is due out later on Thursday, will be the main topic of discussion, according to forex traders.
The local unit began trading at 81.61 against the dollar on the interbank foreign exchange but lost momentum to quote at 81.64, losing 17 paise from its previous finish.
The rupee strengthened by 45 paise on Wednesday to end the day at 81.47 against the US dollar.
"Sentiment is being harmed by the Republicans' worse-than-expected performance in the midterm elections. Republicans are likely to take over the House with a smaller majority than initially anticipated, while the race for the Senate is still very close "In a research report, IFA Global Research Academy stated.
Neel Kashkari, a Fed member, said the central bank will take the necessary steps to reduce inflation and that any notion of a Fed pivot was premature.
The dollar index, which measures the strength of the dollar against a basket of six different currencies, decreased 0.26 percent to 110.26.
The benchmark for world oil, Brent crude futures, increased 0.6% to USD 92.71 a barrel.
The 30-share BSE Sensex was down 412.38 points, or 0.68 percent, at 60,621.17 on the domestic equities market, and the larger NSE Nifty was down 95.30 points, or 0.52 percent, at 18,061.70.
According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers in the capital markets on Wednesday, buying shares worth Rs 386.83 crore.
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