New Delhi: The Indian currency has been under pressure for some time now and has been falling steadily against the dollar. The rupee depreciated 15 paise, to 74.23 against the dollar, on the last trading day of the week, after closing weak for eight consecutive days. The rupee had earlier closed at 74.08 on Thursday.

The dollar strengthened abroad as the U.S. Federal Reserve indicated an earlier interest rate hike. The rupee fell 76 paise, to below 74 rupees against the US currency on Thursday. The rupee opened lower at 73.65 against the US dollar in the inter-bank forex exchange market. It declined further during trading and finally closed at 74.08 per dollar, down 76 paise against its previous closing price. The rupee had closed at Rs 73.32 per dollar on Wednesday. The rupee demeaned between a high of 73.57 and a low of 74.08 during trading.

The rupee has fallen 128 paise in the last eight trading sessions till Thursday. The dollar index has been rising since the US Federal announced. At 1 p.m., the dollar index had gained 0.11 per cent to 91.98. The dollar has been steadily rising for the past four trading sessions. It had gained 0.73 per cent on Thursday. At present, there is a 0.11 per cent rise. The index shows the dollar's strength against the world's six major currencies.

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