Market News
Rupee dips on outflows; state-run banks' dollar sales cushion fall - REUTERS
MUMBAI, Nov 26 (Reuters) - The Indian rupee closed marginally weaker on Wednesday, troubled by portfolio outflows and routine hedging demand from local importers, while intermittent dollar sales from state-run banks cushioned the currency's fall.
The rupee closed at 89.27 against the U.S. dollar, marginally weaker than its previous close of 89.22.
Growing expectations of a December rate cut by the U.S. Federal Reserve helped boost global equities, with India's benchmark equity indexes, the BSE Sensex (.BSESN) and Nifty 50 (.NSEI) posting gains of more than 1% - the most in a day since June.
