Mumbai: The Indian rupee traded flat against the US dollar at on Wednesday. As per forex traders, positive trend in domestic equity and foreign inflows supported the Indian currency, But, strengthening of US dollar against overseas currencies and a rise in Brent crude in international markets capped further gains in the local currency.
At the interbank currency exchange, the local currency opened at 84.66, 2 paise higher than Tuesday’s close but lost the gains immediately after to trade flat at 84.68 against the US dollar. The rupee had recovered from its all-time low level and settled with gains of 4 paise at 84.68 against the US dollar on Tuesday.
Also Read: Moderate intensity earthquake hits Telangana
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading higher by 0.13 per cent at 106.50. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Tuesday, as they purchased shares worth Rs 3,664.67 crore.