Mumbai: The rupee advanced for the first time in four sessions on Wednesday, ending 31 paise higher at 62.44 against the dollar as exporters and some banks sold the US currency, which weakened in the overseas market.
The rupee opened on a flat note on Wednesday at 62.76 per dollar versus 62.75 on Tuesday.
Pramit Brahmbhatt, CEO, Alpari India said, "The euphoria of positive measures by Fed has lost its sheen due to a dampener by RBI last week and hence, rupee has been trading weak.
"Rupee is expected to trade with a weak bias owing to choppy equities, weak sentiment in Asia and strong dollar demand by importers. The range for the day is seen between 62.20-63.30/USD," he added.
The euro slipped against the dollar to just below 1.35 undermined by German sentiment data that was slightly below expectations and comments from European Central Bank officials saying they were prepared to do more to support the region's fragile recovery.
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