Rupee trades flat against US dollar on Thursday
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Indian rupee was trading flat against the US dollar on Thursday pressured by firm American currency at overseas markets with caution ahead to the US presidential election due on November 5, and weak domestic equities following persistent foreign fund outflows also kept the rupee under pressure. Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 4,613.65 crore, exchange data showed. India’s fiscal deficit for the April-September period stood at Rs 4.75 lakh crore or about 29.4% of the estimate for the current fiscal (FY25), government data showed. Meanwhile, any intervention by the Reserve Bank of India might support the rupee at lower levels.
The partially convertible currency is currently trading flat at its previous close of 84.08 on Wednesday. The currency touched a high and low of 84.0875 and 84.0775 respectively.
