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The Indian rupee edged higher in opening trades on Tuesday, tracking weakness in greenback overseas with all anticipation glued to Federal Reserve's decision on interest rates this week. Meanwhile positive opening in local equities is also likely to keep the currency supported although rising crude oil prices could limit upside. Yesterday, rupee witnessed range-bound trading and settled higher by 6 paise at 88.20 against the US dollar. The domestic unit was caught between worries over US trade tariffs and hopes of a FED rate cut. The major Indian stock indices Sensex and the Nifty ended on a weak note on Monday as investors chose to take some profits ahead of the Federal Reserve's monetary policy announcement due later this week. The BSE benchmark Sensex snapped a 5-day winning streak, settling at 81.785.74 with a loss of 118.96 points or 0.15%, while the National Stock Exchange's Nifty50 closed with a loss of 44.80 points or 0.18% at 25,069.20, snapping an eight-session winning streak.
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