Rupee trades flat against US dollar on Wednesday
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Indian rupee was trading flat against the US dollar on Wednesday, tracking selling pressure from foreign institutional investors into Indian capital markets. Foreign Institutional Investors were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 3,115.39 crore, exchange data showed. Rupee sentiments reminded on a flattish mode with expectations that the US Federal Reserve would be in no hurry to cut interest rates in the face of a resilient US economy.
The partially convertible currency is currently trading flat at its previous close of 83.15 on Tuesday. The currency touched a high and low of 83.1650 and 83.1325 respectively.
