Rupee weaker as Asian FX on the back foot on Fed rate-hike bets

The Indian rupee has fallen against the dollar, along with much of the rest of Asia’s emerging market currencies, as the US is expected to raise interest rates once more after strong jobs growth. The rupee traded at 81.98 to each US dollar, down from 81.8850 in the previous session. While the currency has risen for the past three weeks, the 81.80-81.50 point acts as strong resistance for the rupee, with the Reserve Bank of India having purchased dollars around this level in the past.