Reuters | Updated On: December 18, 2013 10:21 (IST)
The rupee traded higher ahead of the RBI's rate decision at 11 a.m. on Wednesday. The currency traded at 61.88 versus Tuesday's close of 62.01/02 as of 10.15 a.m.
The Reserve Bank is likely to hike key policy rate by 25 basis points to 8 per cent to tackle inflationary pressures later today. (Read the full story here)
Stocks also gained ahead of the policy announced with the benchmark BSE Sensex up 0.4 per cent.
The U.S. Federal Reserve decision on taper post-close of local trade will, however, be the key for rupee's fortunes, dealers said.
Copyright Thomson Reuters 2013
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