Rupee pares initial gains to settle flat at 74.83 against U.S. dollar
The Hindu
The rupee settled 1 paisa lower from the previous close of 74.82
The rupee pared its initial gains to settle on a flat note at 74.83 (provisional) against U.S. dollar on February 2, even as the domestic equities closed on a positive note.
Forex traders said higher-than-expected borrowing in the next financial year and weak fiscal deficit projections from the government weighed on investor sentiments.
At the interbank foreign exchange, the rupee opened at 74.76 against the American dollar, and later witnessed an intra-day high of 74.71 and a low of 75.02 against the greenback.
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