Rupee settles flat against U.S. dollar
The Hindu
Rupee flat at 83.27 vs US$ amid weak equities, surging crude. Dollar gains ground due to heightened Middle East tensions. RBI controls rupee's fall. FOMC meeting minutes, ECB president speech, IMF/World Bank meetings awaited. FIIs net sellers in capital market. Forex reserves down $3.794 bn.
The rupee settled flat at 83.27 against the U.S. dollar amid a weak trend in domestic equities and surging crude oil prices in the international markets.
Forex traders said the safe-haven dollar gained ground amidst heightened concerns in the Middle East.
At the interbank foreign exchange, the domestic unit opened at 83.24 and finally settled at 83.27 against the American currency.
During the day, the rupee witnessed an intra-day high of 83.21 and a low of 83.28 against the greenback.
On Friday, the rupee declined 2 paise to settle at 83.27 against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.43 per cent higher at 106.49.
Brent crude futures, the global oil benchmark, rose 3.29 per cent to $87.36 per barrel.
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