The Indian rupee little changed at 73.41 pair now at 73.4650 against 73.46 previous close.
Pair to tip in 73.20- 73.60 range today.
The Indian rupee traded little changed against the dollar in choppy trade, as greenback purchases by crude oil and other importers offset gains triggered by upbeat global risk appetite. Two private lenders along with a U.S.-based bank bought dollars in opening trade. Dollar purchases by an oil and gas company in small quantum along with other importers also erased the rupee’s gains.
Global Currency
The dollar was little changed against most of its major peers on Wednesday but made gains against the yen as upbeat Wall Street earnings turned global sentiment away from safe haven assets. The dollar gained 0.13 percent against the Japanese yen on Wednesday, which traded at 112.40 to the dollar.
The British pound quoted at 1.3187 on Wednesday, after tacking a gain of 0.25 percent versus the dollar on Tuesday. While cable was supported by stronger than expected labour data on Tuesday, investors are still doubtful that the European Union Summit on Wednesday will yield much progress on the Northern Island border issue.
Global Markets
Oil prices extended gains into a fourth session on Wednesday, buoyed as industry data showed a surprise decline in U.S. crude inventories and as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked supply worries. Brent crude was up 12 cents, or 0.2 percent, at $81.53 a barrel, after settling up 63 cents the session before.
Gold held steady near 2-1/2-month highs on Tuesday as dollar weakness offset improved risk appetite among investors, reflected in recovering global stock markets. U.S. gold futures GCcv1 settled up $0.7, or 0.1 percent, at $1,231 an ounce.
