The rupee was trading at 61.45 to the dollar a drop of 14 paise over Tuesday's close. The rupee has remained stable against the dollar in the last few trading sessions.

The currency might now take cues from the 2-day Federal Market Open Committee meet. It's widely expected that the Fed would hold its tapering in its forthcoming policy meet.

This could be good news for the Indian currency, which could rally further following the move. Check currency rates here

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