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Reliance Securities Report
The Indian rupee ended flat against the U.S. dollar on Wednesday ahead of the conclusion of the Federal Reserve System meeting.
The rupee ended at 74.83 to the dollar on Tuesday unchanged from the previous session.
The benchmark S&P BSE Sensex and the broader Nifty 50 Index ended 1.47% and 1.52% higher, respectively, supported by gains in most Asian equities.
Foreign fund inflows kept depreciation bias limited, while possible intervention from the central bank kept the appreciation bias limited.
However, rise in cases in Covid-19 dented hopes for a quick economic recovery and weighed on the Greenback.
The euro fell against the U.S. dollar on Tuesday amid a recovery in the Greenback.
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