Rupee is unchanged at 83.27 versus the US dollar

 Rupee is unchanged at 83.27 versus the US dollar

Ahead of the US Federal Reserve's announcement later on Wednesday, Asian currencies were trading lower.

Ahead of the US Federal Reserve's announcement later on Wednesday, Asian currencies were trading lower.

Ahead of a significant US Fed result, the Indian rupee started November 1st little altered vs the US dollar. The domestic currency was down 0.02 percent from the previous closing at 83.27 per dollar at 9.10 a.m.

"With a 97% likelihood of a rate hold, the Fed will likely not do anything in the near future. Future announcements on the US Treasury refunding will be the main emphasis, according to CR Forex's most recent report. These announcements might affect rates and have an effect on the global foreign currency market, depending on factors including the amount, length, and timing of the auctions.

The promise to protect 1.0% with limitless bond purchases was abandoned when the Bank of Japan reinterpreted it as an upper limitation. The market was let down by this, and the Yen dropped from 149 to 151.75. In response to the Dollar's surge during US trading sessions, the Euro and Pound likewise gave up their intraday gains.

Ahead of the US Federal Reserve's announcement later on Wednesday, Asian currencies were trading lower. The value of the South Korean won decreased by 0.5 percent, the Indonesian rupiah dropped by 0.4 percent, the Thai Baht, the Taiwan dollar, the Malaysian ringgit, and the Philippines peso all decreased by 0.2 percent. The Chinese offshore market gained 0.1 percent, while the Japanese yen gained 0.34 percent.

The US currency's strength in relation to other major currencies is gauged by the dollar index, which was up 0.06 percent from its previous closing of 106.663 to 106.724.