Rupee trades flat against US dollar on Monday
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Indian rupee was trading flat against the US dollar on Monday amidst weak domestic equities tracking persistent foreign fund outflows and an upward momentum in the crude oil prices. Foreign institutional investors were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 5,485.70 crore, exchange data showed. India’s forex reserves declined by $10.746 billion to $690.43 billion for the week ended October 11, RBI data showed. Meanwhile, investors are awaiting the Federal Reserve Neel Kashkari and Jeffrey Schmid speeches due later today for fresh federal rate cues.
The partially convertible currency is currently trading flat at its previous close of 84.07 on Friday. The currency touched a high and low of 84.0725 and 84.06 respectively.
