Rupee little changed against US dollar on Thursday
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Indian rupee was little changed against US dollar on Thursday amid eased concerns over the impact of the new COVID variant on the economy after drug makers BioNTech and Pfizer said a three-shot course of their Covid-19 vaccine was found to neutralise the new Omicron variant in preliminary tests. Moreover, the Indian central bank RBI kept borrowing costs at a record-low for the ninth consecutive time on Wednesday to continue supporting economic growth amid worries around the Omicron corona-virus variant. However, subdued domestic equities amid unabated foreign fund outflows and firm American currency have pressurising rupee sentiments and capped further gains. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 579.27 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 75.49, little changed by 1 paise from its previous close of 75.50 on Wednesday. The currency touched a high and low of 75.5300 and 75.4500 respectively.
