Rupee Slides on Importer Demand, Fed Rate Hike Expectations

The Indian rupee weakened on Wednesday due to dollar demand from importers.
Traders awaited minutes from the U.S. Federal Reserve's June policy meeting for rate hike cues.
The rupee ended down 0.25% at 82.2250 per dollar, touching its lowest level since June 15.
Markets are pricing in an 86% chance of a rate hike in July and a near-20% chance of another increase in September.
The rupee is likely to decline further after indications from the Fed's June meeting minutes of more rate hikes this year.