Indian rupee gains marginally against US dollar on Wednesday
Indian rupee gained marginally against the US dollar on Wednesday amid FII inflows and easing crude oil prices. Foreign institutional investors were net buyers in the equity market on Tuesday as they purchased shares worth Rs 1,602.16 crore, exchange data showed. Although, some gains were capped by weakness in the domestic equities following some doubts over early interest rate cuts from the US Federal Reserve. Investors are cautiously awaiting release of the minutes of the Federal Reserve’s latest policy meeting as well as Friday’s nonfarm payrolls report.
The partially convertible currency is currently trading at 83.31, stronger by 1 paise from its previous close of 83.32 on Tuesday. The currency touched a high and low of 83.3375 and 83.2875 respectively.
