Mumbai: The Indian rupee is opened little changed to the US dollar on Wednesday, with traders weighing comments from Federal Reserve Chair Jerome Powell and awaiting the Reserve Bank of India’s policy decision. The non-deliverable forwards indicate an opening of 82.68-82.74 for the rupee, compared with 82.70 in the previous session.
The rupee appreciated 4 paise to 82.66 against the US dollar in early trade on Wednesday on the back of a positive trend in domestic equities and relatively weaker greenback.
Indian shares opened higher on Wednesday, as investors bet on a smaller interest rate hike by the Reserve Bank of India, while equities benefited from a broader sentiment after markets perceived comments from Federal Reserve Chair Jerome Powell to be dovish. The Nifty 50 index was up 0.2% at 17,757.10, while the S&P BSE Sensex rose 0.15% to 60,376.17, as of 09:16 a.m. IST.
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