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Indian Rupee Inches Down Against U.S. Dollar

In later deals on Wednesday, the Indian rupee ticked down against the U.S. dollar as the latter advanced across the board following the re-election of U.S. President Barack Obama.

Indian shares rose for a sixth consecutive session as a second Obama administration meant that the U.S. Federal Reserve will stay its course on expansionary monetary policy.

The rupee is now trading at 54.2355 against the greenback, down from an early 2-day high of 53.9655. The greenback-rupee pair closed yesterday's deals at 54.43.

by RTTNews Staff Writer

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