Rupee trades flat against US dollar on Tuesday
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Indian rupee was trading flat against the US dollar on Tuesday on the expectations of a hawkish US Fed and an aggressive rate hike in the Federal Open Market Committee meeting later this week. Moreover, firming crude oil prices, weak domestic equities and foreign fund outflows weighed on the domestic currency. Foreign Institutional Investors remained net sellers in the capital market, offloaded shares worth Rs 844.78 crore on Monday, exchange data showed. Meanwhile, weakness in American currency supported the rupee.
The partially convertible currency is currently trading flat at its previous close of 79.78 on Monday. The currency touched a high and low of 79.79 and 79.73 respectively.
