USD/INR closed at 73.59 against its open at 73.41. Dollar ended higher Wednesday on buying by foreign banks ahead of the release of minutes of Federal Reserve September monetary policy amid buying by oil importers.
FOMC minutes are expected today, ahead of which foreign banks were seen buying in spot along with oil importers
WTI traded 0.13% higher at $72.01/barrel while Brent traded 0.05% higher at $81.45/barrel.
Industrial production in the US increased in line with economist estimates in the month of September, reported the Federal Reserve on Tuesday.Meanwhile, traders await the release of minutes of the Federal Reserve's latest monetary policy meeting due later today.
Traders may closely scrutinise the minutes of the Fed's September meeting, looking for additional clues about the outlook for interest rates.
Following the meeting, the Fed raised rates by a quarter point to 2 to 2.25% and forecast another rate hike before the end of the year.
Indian shares opened higher Wednesday tracking positive global cues led by healthy round of earnings report amid value buying as geo-political concerns ease.
Nifty, Sensex fall more than 1 percent amid liquidity concerns.