Indian rupee has remained unchanged against US dollar on Wednesday amid foreign institutional investors buying securities worth Rs 1,143.38 crore on Tuesday’s session. Initially, the rupee opened on weaker note against the dollar as brent crude oil prices surged past $94 a barrel amid escalating tensions in the West Asia after US and Iran exchanged fire. Besides, Federal Reserve Governor Michael Barr’s comments have sparked fears of interest hike among investors. He indicated that he would back a rate hike if inflation doesn't cool quickly. However, rupee strengthened over the course of session to close flat. On the global front, Japanese yen has strengthened against US dollar on Wednesday amid expectation of intervention by authorities following the recent weakness.
Finally, the rupee ended at 94.95 (Provisional), remained unchanged from its previous close of 94.95 on Tuesday. The currency touched a high and low of 94.99 and 94.83 respectively.
