Indian rupee has shown mild strength against US dollar on Wednesday supported by fund inflows from foreign institutional investors (FIIs). FIIs were the net buyers on Tuesday’s session, buying securities worth Rs 1,651.53 crore. However, investors remained cautious as Brent crude oil prices surged past the $91 a barrel mark amid concerns over a prolonged disruption to energy supplies after US President Donald Trump denied any undergoing and scheduled talks with Iran to end the war. Further, traders awaited release of minutes from Federal Reserve's July policy meeting, which due later in the day. On the global front, British pound has strengthened against US dollar on Wednesday as UK’s Consumer inflation number matched street estimates, slightly reducing expectations for a Bank of England rate hike later this year.
Finally, the rupee ended at 95.73 (Provisional), strengthened by 1 paisa from its previous close of 95.74 on Tuesday. The currency touched a high and low of 95.76 and 95.72 respectively.
