India, May 27 -- The rupee settled higher by 12 paise at 95.58 against the US dollar on Wednesday, as renewed tensions between the US and Iran and delays in negotiations kept investors cautious.
Forex traders said a strong American currency and weak domestic markets also pressured the rupee. Attention has shifted toward the upcoming RBI Monetary Policy Committee meeting scheduled between June 3 and 5, they said.
At the interbank foreign exchange market, the rupee opened at 95.60 against the US dollar, and touched an intra-day low of 95.79 against the American currency. At the end of Wednesday's close, the rupee was quoted at 95.58, up 12 paise from its previous closing.
On Tuesday, the rupee depreciated 44 paise to close at 95.70 against the dollar.
Published by HT Digital Content Services with permission from Millennium Post.