Indian rupee moved away from one-month highs on Wednesday, December 17, on account of losses in local equities, however it ended higher after the US Federal Reserve pulled up sentiments by cutting interest rates.
The partially convertible rupee settled 0.5% stronger at 47.67/69 against USD than its Tuesday`s close of 47.92/93. It had touched an intraday high of 47.22; it`s highest since November 10.
The Sensex ended the day (December 17) with a loss of 261.69 points, or 2.62% at 9,715.29 after touching a high of 10,073.10 and a low of 9,682.91.
The Federal Open Market Committee (FOMC) of the US Federal Reserve, on December 16, resolved to establish a target range for the federal funds rate of 0 to 0.25%, in an effort to meet the deepening recession.
