Rupee gains 2 paise against dollar, Fed decision ahead

The rupee firmed up 2 paise to 64.31 against the dollar in early trade on Wednesday even as traders expect an increase on interest rate by the U.S. Fed at its policy meet on Wednesday.

Domestic stocks opened higher, which kept mood positive.

Forex dealers said weakness in the dollar against other currencies overseas supported the rupee too.

On Tuesday, the domestic unit ended higher by 11 paise at 64.33 against the greenback on easing retail inflation.

The benchmark Sensex rose 79.62 points, or 0.25 per cent, to 31,183.11, in early session on Wednesday.

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