The Indian rupee closed almost steady on Wednesday as demand for dollars from importers to meet month-end bills offset a second day of gains in domestic shares, which had eased concerns over capital outflows. The partially convertible rupee closed at 48.93/94 per dollar, marginally stronger than Tuesday's close of 48.94/95.
The rupee hit 48.78 earlier in the session. "The rupee was very rangebound today, there were not many triggers for the market," said V. Kumar, chief dealer at State Bank of Travancore. "The FOMC meet scheduled today could create some fresh volatility, if the comments are anything to go by."
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