mumbai feb 15 reuters  the indian rupee is expected to decline against the dollar at open on wednesday after the us inflation reading underscored bets of more federal reserve rate hikes the nondeliverable forwards indicate that the rupee will open at around 82858290 to the dollar compared with 827550 in the previous session the broad consensus suggests that the reserve bank of india will be there to protect the 82908300 level turning the first half an hour after open critical a trader at a mumbaibased bank said if public sector banks are not on the offer on usdinr at open there could be a quick move higher the trader added us headline consumer inflation index cpi rose 05 monthonmonth in january and core inflation by 04 while the monthonmonth change in the headline and core inflation was in line with expectations the annual rate was above estimates the cpi release is a hiccup to the disinflationary theme that is playing out dbs research said in a note while the monthonmonth measures were in line with consensus higher weight should be placed on the yearonyear figure which faced less distortions from tweaks in seasonal adjustments interest rate futures have fully priced a 25 basis points hike by the fed in march and are almost certain of one more in may the feds terminal rate expectations reached to near 525 fed officials said on tuesday the us central bank will need to keep gradually raising interest rates to beat inflation and suggested sticky price pressures driven by an upbeat jobs market may push borrowing costs higher than they once thought read more the 2year treasury yield rose overnight to above 460 the highest since november asian currencies and equities were broadly lower  brent crude futures down 04 at 853 per barrel  as per nsdl data foreign investors bought a net 181 mln worth of indian shares on feb 13