Rupee trades almost flat against US dollar on Monday
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Indian rupee is trading almost flat against the US dollar on Monday tracking weak American currency with expectations that the US central bank was done with its interest rate hikes. Meanwhile, volatility in domestic equities, foreign fund outflows and rising crude oil prices pressurized rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets on Friday as they sold shares worth Rs 477.76 crore, exchange data showed. Meanwhile, India's foreign exchange reserves decreased by $462 million to $590.321 billion for the week ended November 10, the Reserve Bank said.
The partially convertible currency is currently trading almost flat at its previous close of 83.26 on Friday. The currency touched a high and low of 83.2750 and 83.23 respectively.
