The rupee opened higher this morning on decent global cues as markets in Asia were in the positive terrain, while Wall Street settled mostly higher overnight. Traders hope that the sentiment might spur overseas investors to infuse additional funds into domestic equities.
The domestic currency opened at 47.31 and traded range-bound at 47.30/32 per dollar in early deals on Wednesday. The rupee had closed at 47.48/49 per dollar on Tuesday, after touching an intra-day low of 47.80, the lowest since May 28.
The dollar was almost unchanged against other major currencies after falling on Tuesday, as investors were perplexed whether the economy had improved enough to justify a Fed rate hike by year-end.