Rupee trades flat against US dollar on Thursday
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Indian rupee traded flat against the US dollar on Thursday amid the American currency retreated from its higher level against rivals, despite the fear of slower interest rate cut by the US Federal Reserve. Moreover, routine interventions by the RBI have also helped the rupee sentiments. Although, weak domestic equities, elevated crude oil prices, persisting foreign fund outflows from capital market and political uncertainty ahead of the US Presidential election have kept the upside in check. Foreign institutional investors were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 5,684.63 crore, exchange data showed.
The partially convertible currency is currently trading flat at is previous close of 84.07 on Wednesday. The currency touched a high and low of 84.07 and 84.06 respectively.
