• The Indian rupee snapped its five day losing streak and closed
higher against the US dollar on
Wednesday on positive market sentiment after rating agency Fitch revised India's
outlook to stable from negative.
• Positive statements by senior government officials and news that a
SEBI panel has suggested
consolidation and easing of registration for FIIs also helped the local unit gain
during the day.
• Gains were capped amid weak domestic economic data on industrial
production and retail
inflation.
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