<div>The rupee has given up most losses on the day as foreign banks sell dollars on behalf of custodial clients, three dealers say. Pair at 62.99/00 vs Monday's close of 62.83/84 after rising to 63.6450 early in session.</div><div> </div><div>Dealers also cite hopes of good inflows related to banks bringing in dollar deposits from overseas Indians.</div><div> </div><div>Foreign banks are offering upfront financing for wealthy non-resident Indians (NRIs) of 90 per cent to set up dollar deposits in India following various RBI incentives, including cheap dollar/rupee swap rates and more relaxed terms on 3-5 year dollar deposits, private banking sources told Reuters.</div><div> </div><div>The dollar edged lower on Tuesday, but traded in a tight range before a two-day US Federal Reserve meeting which is expected to result in a scaling back of its monetary stimulus.</div><div> </div><div>(Reuters)</div>
