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Rupee settles 4 paise higher at 73.31 against US dollar

The rupee edged 4 paise higher to close at 73.31 against the US dollar on Wednesday, tracking weak American currency.At the interbank forex market the rupee traded in a narrow range. It opened at 73.39 against the US dollar and finally settled for the day at 73.31 against the greenback, higher by 4 paise over its previous close of 73.35.During the session, the domestic unit witnessed an intra-day high of 73.28 and a low of 73.47 per US dollar.

Market participants are still under the notion that a new US stimulus is coming, but the delay is hinting that it may be rolled out after the US election, said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.

News source ~ The Hindu