India rupee rises on higher equities, dlr weakness

* Rupee had touched intraday high of 46.9750/dlr

* Main share index ends 3.3 pct higher

* Weak overseas dollar also helps rupee

(Updates to close)

By Anurag Joshi

MUMBAI, Nov 4 (Reuters) - The Indian rupee strengthened on Wednesday, helped by a rise in local share prices and weak overseas dollar as traders awaited a policy decision from the Federal Reserve later in the day.

The partially convertible rupee INR=IN ended at 47.05/06 per dollar, off an intraday peak of 46.9750 and about 0.7 percent stronger than its previous close of 47.40/41.

"It's equity linked," said Paresh Nayar, head of foreign exchange and money markets at First Rand Bank.

Higher foreign institutional investor (FII) inflows could push up stock prices and would help rupee appreciate, he added.