Rupee trades flat against US dollar on Monday
Indian rupee was trading flat against the US dollar on Monday as investors awaiting US non-farm payroll data for further cues on US Fed policy and Reserve Bank of India's policy decision on Friday. Meanwhile, the market is convinced that the US Federal Reserve's interest rate-rising cycle is over. Frm domestic equities, foreign fund inflows into capital markets, and state election victories for India's ruling party have kept rupee unchanged. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 1,589.61 crore, exchange data showed.
The partially convertible currency is currently trading flat at its previous close of 83.33 on Friday. The currency touched a high and low of 83.34 and 83.2750 respectively
