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.
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.
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 USD 74.64 per barrel.
On the domestic equity market front,
BSE Sensex was trading 160.88 points or 0.30 percent lower at 52,612.17, while the broader NSE Nifty fell 64.65 points or 0.41 percent to 15,804.60. Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth Rs 633.69 crore, as per exchange data.
