Indian rupee Vs dollar today: Rupee strengthens ahead of US Fed meet
Indian rupee was trading at 65.115, above 0.180 paisa or 0.28% against the US dollar.
Indian rupee touched once again over 65-mark against the US dollar benchmark indices today in the forex market. The domestic currency has been hovering between 64 - 65 level against American unit. The performance of rupee comes in the backdrop of the US Federal Reserve meeting scheduled later in the day.
At around 1001 hours, the Indian rupee was trading at 65.115 above 0.180 paisa or 0.28% against the US dollar. In the early opening, the domestic unit depreciated 12 paise to 65.11 against the American one.
According to a PTI report, the weakness in the US dollar against select currencies overseas and a higher opening in domestic equities capped the losses.
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While Bill Baruch, president of Blue Line Futures in Chicago in a Reuters report said, "This has been another huge day," adding "There`s soothing trade war fears, geopolitics, and a weaker dollar at play."
Meanwhile on Thursday, the foreign portfolio investors (FPIs) sold equities worth Rs 684.99 crore, provisional data showed.
In previous trading session, rupee had ended higher by 3 paise at 64.99 against the US dollarm, amid easing US-China trade war fears.
Going ahead, the performance of rupee also surpassed the impact of Indian benchmark indices who were trading on a negative zone on Wednesday. The benchmark BSE Sensex was trading at 33,793.29, down by 85.35 points or 0.25%, however, in early opening, advanced by 92.26 points, or 0.27%, at 33,972.51.
On the other hand, Nifty 50 was trading at 10,366.75 down by 35.50 points or 0.34%.