Dollar closed at 64.9100 against its opening at 64.7000. Dollar closed up, but it opens down tracking the weakness in the greenback amid overseas fund inflows into local stocks. The greenback remained subdued against its major peers on light data while investors await the release of Federal Open Market Committee (FOMC) November meeting minutes later today and European Central Bank minutes due Thursday. On the US economic front, existing home sales in the US jumped by much more than anticipated in the month of October, reported the National Association of Realtors on Tuesday. The report said existing home sales jumped up by 2.0% to an annual rate of 5.48 million in October from a downwardly revised 5.37 million in September. The Federal Reserve Chief Janet Yellen said that the central bank is keepng a close eye on monitoring inflation and factors keeping it below officials' 2% target.
Meanwhile, Asian stocks headed for a record close, buoyed by fresh all-time highs for US equities with investors energized by the outlook for profits and tax reform.
BSE Sensex closed higher by 83.20 points to 33,561.55, while the Nifty 50 gained 0.15%, to close at 10,342.30.
INTERNATIONAL
Asian shares gained off a record Wall Street finish and with regional sentiment upbeat.
Bank of Japan is dropping subtle, yet intentional, hints that it could edge away from crisis-mode stimulus earlier than expected, through a future hike in its yield target, according to people familiar with the central bank’s thinking.
China's central bank governor said the nation will strengthen policy coordination between central and local financial regulators, the official People's Daily reported on Wednesday.
Oil prices climbed on Wednesday after a reported fall in inventories and on expectations that an OPEC-led production cut aimed at tightening the market will be extended beyond next March.
Gold prices remained in a narrow range on Wednesday as investors remained cautious ahead of the release of minutes from the U.S. Federal Reserve’s last meeting, which could offer hints on the outlook for the central bank’s monetary policy.