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Rupee trades flat against US dollar on Tuesday
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Indian rupee was trading flat against the US dollar on Tuesday as the American currency remained firm in overseas markets ahead of the outcome of a two-day Federal Open Market Committee (FOMC) meeting on Wednesday. Month-end dollar demand, sluggish global market trends and foreign fund outflows have kept the rupee in a tight range. Foreign institutional investors were net sellers in the capital markets on Monday, selling shares worth Rs 2,474.54 crore, exchange data showed. Meanwhile, a decline in crude oil prices supported the rupee.
The partially convertible currency is currently trading flat at its previous close of 83.7350 on Monday. The currency touched a high and low of 83.74 and 83.73 respectively.
