Comments
The Indian rupee opened on a flat note and inched higher by 5 paise to 73.26 against the US dollar in early trade on Wednesday ahead of the US Federal Reserve meeting outcome.
At the interbank foreign exchange, the domestic unit opened at 73.29 against the dollar, then inched higher to quote 73.26, a rise of 5 paise over its previous close of 73.31 on Tuesday.
Also read: Thomas Cook India's new online forex platform gets 800 partners
The Indian rupee started on a flat note this Wednesday against the greenback as investors await the important Fed meeting outcome for further cues, Reliance Securities said in a research note.
“Asian currencies have started weaker against the greenback this Wednesday morning and will weigh on sentiments. Additionally, investors will be wary of rising crude oil prices as well,” the note added.
Dollar index
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.03 to 90.50.
Global oil benchmark Brent crude futures rose 0.88 to $74.64 per barrel.
On the domestic equity market front, the BSE Sensex was trading 160.88 points or 0.30 per cent lower at 52,612.17, while the broader NSE Nifty fell 64.65 points or 0.41 per cent to 15,804.60.
Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth ₹633.69 crore, as per exchange data.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.