Indian Rupee Strengthens Against U.S. Dollar In Volatile Session
At close, the rupee appreciated as much as 0.64% or 52 paise to 81.24.
The Indian rupee appreciated sharply against the U.S. dollar on Wednesday amid choppy trade.
At close, the rupee appreciated as much as 0.64% or 52 paise to 81.24.
The local currency strengthened 0.1% or 7 paise to 81.70 against the greenback at open, compared to Tuesday's close of 81.77.
In early trade, however, the rupee weakened 6 paise to 81.83 against the greenback before giving up losses and strengthening again.
"The U.S. dollar gained a bit to settle above the 102.30 mark on Tuesday ahead of the BOJ’s monetary policy," ICICIDirect.com said in a daily currency strategy note.
"The expectation of a bigger-sized rate hike from the U.S. has vanished after last week’s softer inflation number, which has restricted the dollar from breaching 102.70 level."