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Reliance Securities Report
The Indian rupee appreciated on Wednesday against the U.S. currency and logged the best in almost two weeks supported by the weakness of the U.S. dollar Index.
Markets tracked the Asian currencies which took support from rising non-dollar currencies amid hopes of progress on the next round of U.S. fiscal stimulus.
Reuters reported that there could be a deal by the end of the week, although the White House and Democrats in Congress remain far apart.
The rupee was last at 74.94 to the dollar compared with 75.05 on Tuesday.
The benchmark S&P BSE Sensex and the broader Nifty 50 index both ended little changed on Wednesday ahead of the monetary policy decision today.
U.S. dollar tumbled against a basket of currencies on Wednesday supported by expectations of more stimulus measures for the pandemic-ravaged global economy and weak jobs numbers.
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