The Indian Rupee had opened 70.83 against the US $.
Rupee touched one-month high ⇑ against the US dollar ( $ ) and was firm for the 6th consecutive session.
The Indian rupee was trading marginally higher ⇑ ahead of the outcome of the US Federal Reserve meeting, today. The domestic currency touched a fresh 1 month high ⇑ against the dollar ( $ ) & was firm for the 6th consecutive session.
Today, the rupee traded at 70.86 a dollar, up 0.10 percent from Tuesday's close of 70.93. The Indian unit had opened 70.83 a dollar.
Asian currencies slipped on the confusing signs over whether the US will implement further tariffs on China ahead of its 15 Dec meeting as scheduled. Traders also focus on the UK general election,on 12 December.
After cutting rates for 3 straight times this year, the Federal Reserve’s Federal Open Market Committee (FOMC) is widely expected to hold interest rates depend on the conclusion of meeting.
The 10-year bond yield was flat at 6.71 percent. The benchmark Sensex was 0.16 percent higher ⇑ at 40,303.47 pnts. Year to date, it has gained 14.48 percent.
In the year so far, the rupee has weakened 1.53 percent, while foreign investors have bought nearly 13.34 billion $ in Indian equities and 4.49 billion $ in debt.
Among Asian currencies, South Korean won was down 0.17 percent China Offshore 0.12 percent, Indonesian rupiah 0.10 percent, Singapore dollar 0.1 percent, Philippines peso 0.05 percent, and China Renminbi 0.05 percent. However, Thai Baht was up 0.07 percent and Hong Kong $ 0.05 percent.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.499, up 0.09 percent from its previous close of 97.413.
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