Mumbai: The rupee closed marginally higher against the US dollar ahead of the US Federal Reserve decision due later on Wednesday.
The rupee closed at 64.27 a dollar, up 0.09% from its Tuesday’s close of 64.33. The home currency opened at 64.25 a dollar and touched a high and a low of 64.25 and 34.44, respectively.
According to Bloomberg report, Fed is expected to provide details on unwinding part of the central bank’s $4.5 trillion balance sheet.
The 10-year bond yield closed at 6.577% compared to its previous close of 6.592%. Bond yields and prices move in opposite directions.
The benchmark Sensex index fell 0.01% or 1.86 points to closed at 32,400.51. So far this year, it has risen over 21%.
So far this year, the rupee has gained 6%, while foreign institutional investors (FIIs) have bought $6.78 billion and $20.41 billion in equity and debt, respectively.
Asian currencies were trading higher. Singapore dollar was up 0.28%, South Korean won 0.25%, Japanese yen 0.26%, China Offshore 0.16%, China renminbi 0.12%, Malaysian ringgit 0.1%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.704, down 0.09% from its previous close of 91.793.