Indian rupee trades flat against US dollar on Wednesday
The Indian rupee was trading flat against the US dollar in early trade on Wednesday as the American currency holds steady ahead of 2025's final rate decision of the Jerome Powell-led FOMC committee, which will announce its outcome at the end of the two-day meeting later today. All investors’ eyes will also be on the US-India trade talks which could give some positivity to the domestic currency in the coming days. However, dollar demand from importers and continuous foreign fund outflows have limited further gains in the rupee. Foreign Institutional Investors sold equities worth Rs 3,760.08 crore on Tuesday, exchange data showed.
The partially convertible currency is currently trading flat at its previous close of 89.87 on Tuesday. The currency touched a high and low of 90.07 and 89.7650 respectively.
