Rupee trades flat against the US dollar on Monday
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Indian rupee was trading flat against the US dollar on Monday tracking gains domestic equities and selling of the American currency by exporters and banks. Investors are awaiting Federal Reserve's Jackson Hole speech this week, where US Federal Reserve Chair Jerome Powell is expected to offer more signals on the path of US interest rates. Foreign Institutional Investors were net sellers in the capital markets on Friday as they offloaded shares worth Rs 266.98 crore, exchange data showed. Meanwhile, India's foreign exchange reserves jumped $708 million to $602.161 billion for the week-ended August 11, the Reserve Bank of India said on Friday.
The partially convertible currency is currently trading flat at its previous close of 83.10 on Friday. The currency touched a high and low of 83.1150 and 83.05 respectively.
