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Listen to this article in summarized format Traders said demand for US dollars from importers and oil companies kept the rupee under pressure, while expectations of a US Fed rate hike later in the day prevented the local unit from appreciating despite a record foreign-currency haul that has boosted Mint Road's forex stockpile. Read more: NSE IPO: Every Rs 10 move in shares could swing Radhakishan Damani’s wealth by nearly Rs 40 crore The rupee traded in the range of 95.84 and 95.98 on Wednesday, with the RBI likely selling dollars at weaker levels, dealers said. Market participants expect the rupee to weaken past the 96 level if there is a rate hike by the US Fed or if the Fed chair gives a hawkish commentary. Read more: Shriram Finance plans $500 million bond buyback Rupee is expected to trade between 95.75 and 96.25 on Thursday. "I expect the rupee to remain under 96 for some time unless oil prices rise above $110 per barrel and the dollar index crosses 100," said Anil Bhansali, head of treasury, Finrex Treasury Advisors. (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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