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Indian rupee was trading flat against the US dollar on Friday, amid sustained foreign fund outflows from the capital market. Foreign Institutional Investors (FIIs) remained net sellers in the capital market as they offloaded shares worth Rs 2,319.06 crore on Thursday, exchange data showed. However, pullback in crude oil prices and weakness in US dollar overseas supported rupee sentiments. Meanwhile, investors will be looking for clues about the Fed's policy tightening path and whether aggressive rate hikes would trigger a recession.

The partially convertible currency is currently trading flat at its previous close of 78.32 on Thursday. The currency touched a high and low of 78.3325 and 78.1975 respectively.