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USDINR closed at 63.91 against its opened at 63.87.
Sensex provisionally ends 104.74 points higher; 19 components in the green.
The Federal Reserve is expected today to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September.
U.S. consumer confidence suffered its biggest blow in four years in July on a less upbeat jobs outlook, while home appreciation in major cities stalled in May, suggesting a spring pause in housing demand.
Brent traded at four-month low as the supply from Iran and the US rose amid slump in demand on economic slowdown including in China.
Chinese shares fell for a fourth consecutive day on Wednesday, but the declines were modest as Beijing's efforts to prop up values appeared to have brought a measure of stability to its unruly stock market.
Reserve Bank of India Deputy Governor S. S. Mundra said the latest April-June earnings from state-owned lenders showed "stability" in terms of non-performing assets (NPAs), but added the central bank would remain "watchful."
European equities advanced on Wednesday, spurred by strong corporate earnings and gains in U.S. and Asian markets on hopes that Beijing could stem the rout in its markets without damage to the world's second biggest economy.
The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September.
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