The Indian rupee opened on a flat be aware and inched 4 paise higher to 74.43 against the US dollar in early trade on Wednesday, forward of the US Fed determination later in the day.
Forex merchants stated the rupee is buying and selling in a slender vary forward of the month-to-month expiry and the US Fed’s coverage determination.
At the interbank international alternate, the home unit opened at 74.44 against the dollar, then inched higher to 74.43, registering a achieve of 4 paise over its earlier shut.
On Tuesday, the rupee had settled at 74.47 against the US dollar.
Meanwhile, the dollar index, which gauges the buck’s power against a basket of six currencies, was buying and selling 0.04 per cent up at 92.46.
“Investors could refrain themselves from taking large positions ahead of monthly expiry and Fed decision tonight,” Reliance Securities stated in a analysis be aware.
The be aware additional stated that regional currencies have been flat to marginally stronger against the dollar early Wednesday morning and will cap depreciation bias.
On the home fairness market entrance, BSE Sensex was buying and selling 318.40 factors or 0.61 per cent decrease at 52,260.36, whereas the broader NSE Nifty declined 96.40 factors or 0.61 per cent to 15,650.05.
Meanwhile, international institutional buyers have been internet sellers in the capital market on Tuesday as they offloaded shares price ₹1,459.08 crore, as per alternate information.
Global oil benchmark Brent crude futures superior 0.47 per cent to USD 74.83 per barrel.