Rupee edges up amid greenback weakness

The Indian rupee ended slightly stronger on Wednesday despite strong dollar demand from banks, benefiting from the overall weakness in the greenback that boosted most Asian currencies.

The rupee fluctuated between gains and losses during Wednesday’s session before closing slightly higher at 85.27 compared to its previous close of 85.33.

The currency hit a high of 85.07 before dropping to 85.51 due to strong dollar bids from a state-run bank and foreign banks, according to a forex trader in Mumbai.

Attribution: Reuters
Subediting: M. S. Salama