Rupee edges up; Federal Reserve lifts risk assets

Mumbai: The rupee is trading at 59.62/63 versus its Wednesday close of 59.75/76. Asian equities rose and the dollar dipped on Thursday, after the US Federal Reserve indicated it was not in a rush to end quantitative easing and begin hiking rates.

Traders expect the market to remain range-bound until the budget announcements, which will start at 11 a.m. Most Asian currencies are trading stronger. The dollar started at one-week lows against a basket of major currencies.

The rupee is seen moving in a 59.50 to 59.80 range until the budget.