Rupee climbs 17 paise against dollar in early trade
Rupee is trading at 65.33 against the dollar ahead of the announcement of RBI's monetary policy review.
By : DC Correspondent
Update: 2017-10-04 04:25 GMT
Mumbai: The rupee turned stronger by 17 paise at 65.33 against the dollar on Wednesday ahead of the announcement of RBI's monetary policy review. The rate decision of the six-member monetary policy committee (MPC) is due on Wednesday.
The dollar retreated globally as attention shifted to the likely composition of the new Federal Reserve board after the incumbent Chair Janet Yellen's term ends. A higher opening in domestic equities aided the rupee uptrend, traders said.
On Tuesday, the domestic currency ended lower by 22 paise at 65.50 against the greenback amid rising expectations of a rate hike by the US Federal Reserve.
Meanwhile, the benchmark BSE Sensex rose 44.16 points, or 0.14 per cent, to 31,541.54 in opening session on Wednesday.