Rupee trades flat against US dollar on Thursday
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Indian rupee was trading flat against the US dollar on Thursday tracking a weak American currency against major overseas rivals. Unabated outflow of foreign funds and a downward trend in the crude oil prices have kept rupee under pressure. Investors are cautiously awaiting the domestic GDP data to be released later in the day. Market participants also focusing on German CPI and the Fed's preferred inflation gauge- the Core PCE price index. Foreign institutional investors were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 1,879.23 crore on a net basis, exchange data showed.
The partially convertible currency is currently trading flat at its previous close of 82.91 on Wednesday. The currency touched a high and low of 82.92 and 82.88 respectively.
