USD/INR closed at 71.11 against its opening at 71.14. USD/INR ended little changed on Tuesday as investors remained on sidelines ahead of Federal Open Market Committee monetary policy meeting outcome due later tomorrow.All focus is on FOMC outcome.
The greenback remained subdued against its major peers as investors, trading near two-week low on fears of no aggressive interest rate hikes by the Federal Reserve.The dollar index, which tracks the movement of the greenback against a basket of six major currencies, traded at 95.74 during early Asian trades Tuesday compared to 95.77 at previous close.
Indian benchmark indices staged a smart recovery from day lows yet ended Tuesday session marginally lower due to the uncertainties in global markets and sluggish macro environment.
The prospect of a Sino-US trade deal looks gloomy after the US charged Chinese telecom firm Huawei with bank fraud and for conspiring to steal trade secrets.Investors now eye progress from the fresh round of US-China trade talks with Chinese Vice Premier Liu He meeting US officials on Wednesday and Thursday.
The US Justice Department filed criminal charges against China's top telecom equipment maker, Huawei, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc.
The greenback remained subdued against its major peers trading near two week low as investors await the Federal open market committee policy meet on January 29-30, where policymakers are expected to signal a pause to their tightening cycle.
Meanwhile, Crude oil prices edged higher after the US government slapped fresh sanctions on Venezuela's state-owned oil firm PdVSA in a move aimed at severely curbing the OPEC member's crude exports to the US. Brent futures for April delivery traded 0.12% higher at $60.09 a barrel on Tuesday.
Sensex provisionally ends 57 points higher with 20 components in the green.