Rupee trades flat against US dollar on Friday
The Indian rupee was trading flat against US dollar on Friday as the 90 level is being protected by the Reserve Bank of India. Domestic unit took some support with firm domestic equities and weak American currency. Traders took note of the government data which showed India’s gross GST collections rose 6.1% to over Rs 1.74 lakh crore in December 2025. The total gross GST revenue in December 2024 was over Rs 1.64 lakh crore. However, upside remained capped amid persistent foreign fund outflows from the Indian capital market, and India-US trade related uncertainty. Foreign institutional investors offloaded equities worth Rs 3,268.60 crore on Thursday, exchange data showed. Traders are now awaiting next week’s US payroll report for further cues on US monetary policy. Attention is also turning to Fed leadership, with Trump expected to name a successor to Jerome Powell early this year, as markets speculate for a more dovish appointment.
The partially convertible currency is currently trading flat at its previous close of 89.9850 on Thursday. The currency touched a high and low of 89.9925 and 89.92 respectively.
