Rupee trades flat against US dollar on Monday
The Indian rupee was trading flat against the US dollar on Monday, tracking weak domestic equities as US-India tariff negotiations remained in focus. Investors are now watching developments from the US Federal Reserve which will begin its two-day policy meeting from Tuesday. Firm American currency and sustained foreign fund outflows also kept rupee sentiments subdued. Foreign institutional investors offloaded equities worth Rs 1,979.96 crore on a net basis on Friday, exchange data showed. Meanwhile, the RBI said India's forex kitty declined by $1.183 billion to $695.489 billion during the week ended July 18.
The partially convertible currency is currently trading flat at its previous close of 86.52 on Friday. The currency touched a high and low of 86.5350 and 86.4050 respectively.
