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Indian rupee was trading flat against the US dollar on Thursday amid weak trend in domestic equities following worries of escalating geopolitical tensions in the Middle East. Moreover, sustained foreign fund outflows and strength of American currency at overseas market also weighed on rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets as they sold shares worth Rs 1,831.84 crore on Wednesday, exchange data showed. Meanwhile investors are awaiting US Federal Reserve Chair Jerome Powell’s speech for further clues on the Fed’s interest rate path.

The partially convertible currency is currently trading flat at its previous close of 83.28 on Wednesday. The currency touched a high and low of 83.27 and 83.25 respectively.