Rupee strengthens against US dollar on Wednesday
The Indian rupee strengthened against the US dollar on Wednesday, even as the American currency showed a recovery ahead of clues from the US Federal Reserve's interest rate decision later today and prevailing concerns about global trade tariff move. The US Federal Reserve is widely expected to make no changes to its policy rate. Moreover, easing crude oil prices and some inflow of foreign capital into the domestic capital market have also supported rupee sentiments. Foreign institutional investors bought equities worth Rs 694.57 crore on a net basis on Tuesday, exchange data showed.
The partially convertible currency is currently trading at 86.51, stronger by 5 paise from its previous close of 86.56 on Tuesday. The currency touched a high and low of 86.68 and 86.51 respectively.
