Rupee trades little changed against US dollar in early trade on Wednesday
The Indian rupee is trading little changed against the US dollar in early trade on Wednesday, supported by RBI intervention and foreign fund inflows. Foreign institutional investors (FIIs) purchased equities worth Rs 1,651.53 crore on a net basis on Tuesday, exchange data showed. Meanwhile, a decline in the American currency also provided some support to rupee. However, rising Brent crude prices limited further gains in the local currency, as there was no sign that the standoff between the US and Iran over reopening the Strait of Hormuz would end soon.
The partially convertible currency is currently trading at 95.73, tad stronger by 1 paise from its previous close of 95.74 on Tuesday. The currency touched a high and low of 95.76 and 95.72 respectively.
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