Reuters Market Eye - The rupee is higher tracking broad gains in Asian FX versus dollar after Turkey's massive rate hike. The pair is at 62.22/23 versus Tuesday's close of 62.51/52.
A definite break of 62.20 might lead to test of 62, says a dealer.
The central bank's surprise rate hike on Tuesday supporting INR as it is making the currency high-yielding.
The BSE Sensex gains, up 0.59 percent.
Japan's yen extended its pullback early on Wednesday, while higher-risk currencies such as the Australian dollar rallied after Turkey stunned markets with a massive interest rate hike in an effort to stem capital flight from its economy.
(Reporting by Subhadip Sircar)
