The Indian rupee strengthened against the U.S. dollar in the late morning deals on Thursday amid risk appetite, as rebound in crude oil and gold prices boosted investor sentiment.
Meanwhile, investors are bracing for the crucial U.S. Federal Reserve decision later in the day to see whether the U.S. central bank would raise short-term interest rates for the first time in nearly a decade.?
Against the greenback, the rupee rose to nearly a 3-week high of 66.0800 from an early low of 66.4600. At yesterday’s close, the rupee was trading at 66.2200 against the greenback.
If the rupee extends its uptrend, it is likely to find resistance around the 65.30 area.
The material has been provided by InstaForex Company – www.instaforex.com