Indian Rupee strengthened against US dollar on Wednesday amid positive trend in domestic equities and IPO-related inflows, while softening crude oil prices also kept the rupee sentiments bullish. Meanwhile, investors are awaiting results of US Federal Reserve policy meeting and Fed is expected to announce it will start unwinding its $120 billion monthly bond purchases. Moreover, Foreign Institutional Investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 244.87 crore on Tuesday, exchange data showed.
The partially convertible currency is currently trading at 74.56, stronger by 12 paise from its previous close of 74.68 on Tuesday. The currency touched a high and low of 74.6475 and 74.54 respectively.
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