Rupee firms, volatility expectations tick up heading into Fed decision

On Wednesday, the Indian rupee hit a three-week peak as local stocks surged, with traders adjusting their positions ahead of the Federal Reserve's decision. State-run banks contributed by selling dollars, which alleviated demand pressure amid futures expiry. However, Brent crude prices soared amidst rising tensions in the Middle East, while global share markets faced challenges, letting India’s benchmark stock index rise higher.