INR settles flat amid tepid moves against dollar

The Indian rupee ended the day almost flat on Wednesday amid tepid moves against the dollar. Rupee stayed range-bound for the second consecutive day and settled 1 paisa lower at 90.96 (provisional) against the US dollar amid higher global crude oil prices and foreign fund outflows. A weaker greenback and positive sentiments in domestic equity markets prevented the rupee's losses. The benchmark ended the session up 50.15 points, or 0.06 percent, at 82,276.07, after having surged to a high of 82,957.91 earlier on the back of firm cues from global markets as new U.S. tariffs came into effect at 10 percent under a different legal framework. The broader NSE Nifty index hit an intraday high of 25,652.60 before closing up 57.85 points. At the interbank foreign exchange, the rupee opened at 90.94 against the greenback and traded in a narrow range through the session before settling at 90.96 (provisional), down 1 paisa from its previous close.

 

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