Rupee turns flat at 85.79 against U.S. dollar in early trade
The Hindu
Rupee remains flat at 85.79 against US dollar amid foreign capital outflow and elevated American currency index.
The rupee turned flat at 85.79 against the US dollar in early trade on Monday (January 6, 2025) as positive domestic equity markets failed to boost sentiment amid sustained outflow of foreign capital and elevated level of American currency index.
According to forex traders, the Indian currency found some support due to falling crude oil prices overseas, but concerns over higher dollar index as well as US treasury yields kept investors in cautious mode.
At the interbank foreign exchange, the rupee opened at 85.77 and then slipped further to its previous session's closing level of 85.79 against the American currency.
On Friday, the rupee depreciated 4 paise to close at 85.79 against the dollar.
On December 27, the local currency touched its lifetime intra-day low of 85.80 against the greenback.
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