Rupee ends flat at 63.75 against US dollar

NEW DELHI: Rupee ended flat at 63.75 against dollar on Wednesday amid revived concerns over a likely hike in policy rate by the US Federal Reserve in its forthcoming September policy review.

The domestic currency saw an intraday high of 63.72 and intraday low of 63.93 against the greenback during the session.

The local unit had jumped 30 paise against the greenback to settle the day at a two-week high of 63.75. Gains on Tuesday were boosted after the Reserve Bank of India (RBI), in its policy review on Tuesday, left the key short-term lending rate, or repo rate, unchanged at 7.25 per cent.

However, Wednesday saw dollar rising against major world currencies after Atlanta Federal Reserve President Dennis Lockhart expressed his support for an interest rate hike in September.

Lockhart is a voter on the Federal Open Market Committee.

Dollar index, which tracks the movement of dollar against a trade-weighted basket of six major world currencies, stood at 97.98, up 0.06 per cent.