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Rupee Trades Higher At 70.82

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The domestic currency rupee in Wednesday's session was trading higher at 70.82 per dollar. The unit opened at 70.89 as against the previous close of 70.92.

Rupee Trades Higher At 70.82
 

On Tuesday, rupee closed at a one-month high on the back of strong foreign fund inflows.Rupee has been trading higher for the sixth-straight session and further direction shall be guided by the Fed meet outcome, which is due later in the day today. After three back to back rate cuts this year, Fed's Federal Open Market Committee (FOMC) is highly likely to pause on rates today.

Other Asian currencies declined in trade as concerns persists over whether or not the US will kick-in fresh tariffs on Chinese goods from December 15.

In the bond markets, the yield on 10-year bond stood steady at 6.71%.

Meanwhile, Indian indices were trading higher, with Sensex up 0.4% at 40399.41.

GoodReturns.in

Read more about: rupee dollar crude foreign funds fomc
Story first published: Wednesday, December 11, 2019, 10:09 [IST]
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