Rupee ends higher on dollar inflows; Fed testimony in focus

Indian rupee strengthened against the US dollar on Wednesday to close at 82.0375 amid continuous inflows into the domestic share market, while some other Asian currencies slipped due to the local economic situation. The Indian currency has traded within a range of 81.80-82.30 since last week. As per forex analysts, unless that range breaks there is no clear direction for the rupee. Meanwhile, foreign investors have poured $1.8bn into Indian equities this month, following the positive macroeconomic data of robust domestic growth and easing inflation.