INR settles on flat note amid heightened risk aversion

The Indian rupee settled on a flat note on Friday, higher by just 2 paise at 95.22 (provisional) against the US dollar, on heightened risk aversion due to fragile negotiations between Iran and Oman over the Strait of Hormuz. Risk aversion in global markets due to uncertainty on the deal between Iran and Oman and an overnight jump in crude oil prices weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 95.27 against the greenback and traded in a range of 95.19-95.28 during the session. It eventually settled at 95.20 (provisional), higher by 2 paise from its previous close. Indian shares ended Friday's session lower amid a resurgence in geopolitical and trade tensions. The BSE Sensex closed down 455.59 points (0.58%) at 78,499.17, while the NSE Nifty 50 declined 65.35 points (0.27%) to settle at 24,570.65.

 

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