Rupee breaks 6-day slide as Fed signals lift equities

The rupee snapped a 6-day weakening streak on Wednesday as global equities rebounded and the dollar fell after the U.S. Federal Reserve promised to keep rates low for at least two years.

* At 9:18 a.m., the partially convertible rupee was at 44.9750/9775 per dollar, stronger from Tuesday's close 45.205/215, when it had hit an 11-week-low of 45.40.

* The euro was at $1.4348 from $1.4259 when the rupee closed on Tuesday, while the index of the dollar against six major currencies was down at 74.020 points from 74.448.

* The dollar edged up against the Australian dollar, but its bounce was limited after the U.S. Fed vow on rates reaffirmed the greenback's status as a funding currency of choice for carry trades.

* Traders said the rupee's intraday moves would be decided by dollar demand from oil companies for import payments to Iran and movement in local equities.