Rupee trades flat against US dollar on Thursday
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Indian rupee was trading on a flat note against the US dollar on Thursday, tracking weak trend in domestic equities. Meanwhile, market focus turned towards fourth-quarter US GDP data due later in the day, that could impact expectations of potential easing in policy rates by the US central bank. Rising crude oil prices and sustained foreign fund outflows have also pressurized rupee. Foreign Institutional Investors were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 6,934.93 crore, exchange data showed. India's liquidity deficit has widened to Rs 3.34 trillion ($40.18 billion) as of January, data from the Reserve Bank of India showed.
The partially convertible currency is currently trading flat at its previous close of 83.12 on Wednesday. The currency touched a high and low of 83.14 and 83.11 respectively.
