The Indian Rupee was trading higher against the greenback on Wednesday due to muted dollar demand by exporters and banks as well as sustained fund inflows. At the Interbank Foreign Exchange Market, the local currency was trading 05 paise higher at 63.78 per dollar against a previous close of 63.83 per dollar (at 16:50 hours).
During the day’s trade so far, the rupee touched an intra-day high of 63.77 after opening at 63.87. However, bearish trend in the domestic equity market dented sentiment at local forex market. The 30-share benchmark index closed at 35965.02, down by 68.71 points or by 0.19 per cent, and the NSE Nifty ended at 11027.7, down by 21.95 points or by 0.2 per cent.