On Wednesday, the rupee appreciated 12 paise to settle at 86.44 against the US dollar, marking its fourth consecutive gain. Strong domestic equities, falling crude oil prices, and foreign institutional investor (FII) inflows supported the currency. However, the US dollar’s strength ahead of the Federal Reserve’s interest rate decision limited sharp gains. Forex analysts expect the rupee to trade from Rs 86.20 to Rs 86.80 in the near term.
