Indian rupee was trading almost unchanged against the US dollar on Wednesday as the American currency regained strength after softer-than-expected US inflation raised fresh questions on when the US Fed will begin tapering its asset purchases. High crude oil prices also weighed on rupee sentiments. Meanwhile, firm trend in domestic equities amid sustained foreign fund inflows supported rupee to some extent. Foreign Institutional Investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 1,649.60 crore on Tuesday, exchange data showed. On the domestic macro-economic front, the wholesale price-based inflation accelerated to 11.39 percent in August, mainly due to costlier manufactured goods. India's exports jumped 45.76 percent to $33.28 billion in August on account of healthy growth in segments like engineering, petroleum products, gems and jewellery and chemicals, even as the trade deficit for August widened to $13.81 billion compared to $8.2 billion in August 2020.
The partially convertible currency is currently trading at 73.69, weaker by 1 paise from its previous close of 73.68 on Tuesday. The currency touched a high and low of 73.74 and 73.66 respectively.
