ET:Rupee gains ahead of Federal Reserve, ECB meetings
The rupee rose to 55.54/55 versus its previous close of 55.6450/6550, tracking a steady euro ahead of monetary policy decisions from the Federal Reserve later in the day and the European Central Bank on Thursday.
Analysts expect the Fed will stop short of announcing aggressive measures to tackle a weak US economy but to signal its readiness to act.
The absence of oil-related dollar demand in the new month is also helping the rupee, traders said, while custodian banks were spotted selling dollars in the morning session.
