On Wednesday, the Indian rupee may depreciate a little as a result of the rise in U.S. yields due to the potential for a hawkish Federal Reserve decision.

The Indian rupee remained relatively unchanged on Tuesday, while forward premiums experienced a drop as market participants awaited the highly anticipated release of U.S. inflation data. By 10:42 a.m. IST, the rupee was trading at 82.4250 against the dollar, displaying minimal variation compared to the previous session’s rate of 82.43.

The Indian rupee depreciated against the US dollar by 13 paisas on Tuesday’s interbank foreign exchange market, opening at 79.58. In early trade on Tuesday, the rupee hit a record