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The broad-based dollar strength also weighed on the local currency. The rupee opened the day a tad stronger at 95.56 a dollar as concerns over crude supply eased driven by reports that the Strait of Hormuz could reopen soon. However, local dollar demand put pressure on the currency, traders said. "Markets are also beginning to price in a rate hike from the RBI, HDFC Securities said in its daily report. Meanwhile, the dollar index rose over 1% since the US Federal Reserve increased rates last week while investors are expecting further tightening. Asian currencies also fell 0.1% to 0.3% Wednesday. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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