Indian rupee steady despite weaker dollar

The Indian rupee closed almost unchanged on Wednesday, lagging behind other Asian currencies due to a weaker US dollar and strong demand from foreign banks, possibly for custodial clients.

The rupee ended the day at 85.6375 per dollar, slightly higher than its previous close of 85.6350.

Other Asian currencies increased by 0.1 per cent to 0.6 per cent while the dollar index fell to a two-week low before recovering to its last quoted level of 99.6.

Attribution: Reuters

Subediting: Y.Yasser