The local currency opened at 67.35 a dollar and touched a high and a low of 67.32 and 67.45, respectively. At 9.10am, the home currency was trading at 67.45, up 0.01% from its previous close of 67.46.
India’s benchmark Sensex index rose 0.24% or 64.52 points to 27,231.39. So far this year, Sensex is up 4%.
Most of the Asian currencies were trading higher. South Korean won was up 0.7%, Malaysian ringgit 0.57%, Japanese yen 0.42%, Taiwan dollar 0.22%, Indonesian rupiah 0.11%, China renminbi 0.07%, Philippines peso 0.05%.
So far this year, the rupee is down 1.9%, while foreign institutional investors (FIIs) have bought $2.94 billion in equity and sold $1.83 billion in debt markets.
Meanwhile, India’s 10-year bond yield was trading at 7.37%, compared with Tuesday’s close of 7.39%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.102, up 0.05% from its previous close of 96.053.
Federal Reserve policymakers last month were increasingly worried about the US economy because of a sharp slowdown in job growth and the potential threat posed by a vote in Britain over leaving the European Union.
Minutes of the 14-15 June discussions released Wednesday show a general consensus to hold off on further rate hikes until data could show whether or not the weak job growth in May was a temporary aberration. Policymakers also agreed they needed to wait for the outcome of the British vote, Reuters reported.